Hey, Can someone explain the differences between a WP site hosted on wordpress.com and your own hosting? good and bad points??? If i was to host on wp.com can i still change the design? can i buy a custom built design and put it on my blog at wp.com? or do i need to host myself to change the design??? If i host my self i need web space and a url? if i host at wp i get this all free? so whats the pitfuls?
Yes, if you host yourself you need webspace and a url. If you host at wp it is free... but there are limitations. Your url will not be a top level domain. Instead of yoursite.com you will have yoursite.wp.com The biggest complaint that I hear is that you cannot put adsense ads on a wp hosted blog. Also, you don't have total control of your blog. If you go against their TOS they could take away your blog and all your hard work. If there is no way you can pay for domain and hosting than I suggest a blogger blog. They are free and you are allowed to put advertising on them.
You can not put any advertisements on a wp.com blog with the exception of a single affiliate link within the sidebar, affiliate links to a site that sells actual material that you have created (like a link to a book that you have written that's up at Amazon) and/or the occasional affiliate link that is along side an actual and honest review of such a product. (ie a 500 word review of a book or album written by the blogger was the suggestion that we passed around.) The main purpose of your site can not be those advertisements either or the support of them. (ie You can't run a book review site there for example. The occasional review is fine.) Do realize that there are hundreds if not thousands of other Wordpress hosts out there, not just wp.com. Many of them have less strict rules than wp.com does. Google for this: wordpress multiuser inurl:wp-signup.php -drmike Former wp.com support forum moderator who has seen the light and gotten the hell out of there.
This biggest issue, as stated above is that you lose control when you don't have it hosted yourself. If there is ever a change in terms, then you risk having to change your business model. I just wouldn't want to spend all this time and money promoting a property of mine that was at the mercy of someone else.
Everyone above made really good points. You should go for your own domain name. As you add content you are adding value for your own domain not to wp. Hosting isn't costly now days and it gives you full control.