There are 2 basic choices for hosting your site. Free vs Paid hosting. It is suggested that if you are a first time site builder/owner, that you start with free hosting and upgrade to paid as your site gains more popularity. There are several reasons for this, the first being that it's quite possible that you'll get bored or frustrated with maintaining the site and simply quit. 90% of sims fansites are abandoned by their owners BEFORE their 6 month anniversary.
Official advice is to purchase a domain name and direct your freely hosted site to the purchased domain address (www.yoursite.com) When you upgrade to paid hosting, you can simply point your site to this existing address so your fans arn't forced to change their bookmarks.

The following are reviews for various hosting companies. If you have any to add please contact ws_jessica in the forum!