Hosting: Your website needs a server-computer which is going to make saved contents available to the user/site-visiter.   Hosting account could cost $1/Month and more but it is all about your plan or what you want to serve online. 

Domain Name: A domain name can be yourCompany name, yourName or anything which can describe your business.  Costs for a domain-name is based on its extension .com, .eu, .info, .org and so on and it could be $10/Year….

CMS Content Management System: We need a Content Management System or so called CMS software in order to make it easy to manage site contents. Most CMS softwares are free to download. Some of the most common CMS programs are Joomla, WP, Magento and Drupal.