I recommend using cloud servers for hosting websites because they follow pay-as-you-go model, fast, highly scalable and affordable.

With cloud servers,

• You won’t need to pay for the whole years subscriptions at the beginning. Instead, you will only pay for what you use after each month’s usage. So, if you ever need to upgrade your server for more resources, you can just upgrade them without wasting money on the subscription time that you have left.
• Cloud servers are highly scalable. There are providers that let’s you get upto 128 GB of RAM without even contacting the provider. Most traditional server providers like Godaddy, Siteground etc charges 3 to 5 times more than cloud servers but yet don’t provide packages that include more than 10GB of RAM. So, if you want scalability, cloud server is a must.
• You get full control over your machine and can do any setup you want with cloud servers.

With all of these benefits of cloud servers, they also come with complexities. So, I recommend using a managed cloud server provider like Cloudways so that you can get all the benefits of cloud servers but without the complexity of managing the server. Cloudways also comes with a lot of extra addons and optimizations that helps you serve the websites very fast.