Shared web hosting is the most affordable type of domain hosting available. Its affordability is due to the fact that you share a server with various companies who also want a low-cost web hosting plan. Each company that shares this server has its own specified amount of storage space that is defined by the hosting package Depending on the size of the server, you could possibly have thousands of websites hosted on the same platform, with each user receiving an allotment of the total available bandwidth, memory, and power.
Many services offer a low "starting price," but require you to prepay for two or three years of service to get that price. After the promotional period, the renewal price for some services can be two, three, or even four times the initial promotional pricing. While the initial deal might be incredible, the cost of transferring your site (or paying the added fee) in a couple of years may be something to consider.