Bricks, Masonry, Asphalt and Concrete - Parging question

Hello all. First time poster on this site. I have recently purchased a house and the parging is flaking off, I knew it needed work before. Looking for tips/advice about parging. It is a walkout basement. Appears to be very dry. I was wondering if this was project I could work on or should I look at hiring a professional. I am fairly handy and have the time to work at it. Any advice would be greatly appreciated.

It is very easy, though time consuming. First you need to remove all of the flaking (loose) material, then determine why it is flaking. Usually, it is due to moisture, but there are specific pointers for different reasons. Can you post a close up pic of a flaking area?

Thank you for your response. I am not able to post a pic right now. I dont actually take possession of the house for a month and a half. I can tell you that I live in central Ontario Canada with very cold winters and very warm/humid summers. The house is located across the road from a lake. I am hoping it is just from seasonal factors. The home inspector said the foundation was fine. At this point it is mostly for aesthetic reasons although I would prefer to have it sealed up as soon as possible.