When your site has its own domain name, it sounds more credible. If your site is about the products or services you are offering, your customers feel that they are dealing with established company and professionals. Of course you will need to pay a web hosting company to host your website or blog but the small fee that you will pay for a year hosting is nothing compared to the benefits that you will get.
There are cheap web hosting for small sites like blogs and web hosting for small businesses and enterprises. Each type of web hosting has its pros and cons. A web hosting directory featuring webhosting reviews could be a big help in choosing the best web hosting provider. These web hosting reviews compare web hosting providers based on their rank, price, space, traffic and ratings of customers. Though an advice from an experienced friend could help you decide, still, it is best to make your own research.