Shared Web Hosting service - Just as the heading states, you will be sharing the server with many other websites, could be a few hundred, and could be thousands. The good news is with this the services that are offered aren't limited very much.
Some web sites which are being hosted by cheap web site host providers are usually prone to down time. A reflection on the kind of services which cheap web hosting plans are known about. But, then again, this does not apply to all; there are still some cheap web hosting out there that are mindful to their clients' needs and concerns. One should also see in a wider perspective that if your server frequently crashes down, there is a tendency to lose your clients.
Just because you have used Affordable Web Hosting doesn't mean it has to be poor quality hosting. There are lots of very good quality hosts available at very affordable prices. Also be aware of what comes as standard with your hosting and what comes as paid extras. Check that your potential host uses a popular control panel such as Cpanel. Some hosts use free panels and although they work fine, if the time comes when you have to move your website to a new host, control panels like Cpanel make the process a lot easier.
Below are a few more but I could go into great detail and do not want to confuse you. If you have the time, look into all of them by using your favourite search engine and decide which is best for you.
Web Host Country - Depending on your market, this could be the most important consideration, and often the most overlooked. The physical location of your host servers can have an impact on your business if your target market is in your own country. Google UK, for example offer the option of either a UK only or a world-wide search. If you want to feature in the UK only searches it is far better to have your website hosted by a company who has its actual servers in the UK. Be aware that some Shared Web Hosting UK hosting companies who appear to be UK based companies actually have their servers located in other countries. Always ask!
Will they hold your domain to ransom when you come to transfer away? Can you be in full control of your domain at all times? Is the company just another reseller of a reseller of a reseller?!
Finally, we have the hosting that is based on the operating system. Two of the most popular ones are Unix and Windows hosting. There are good and bad on both hosting and users should choose according their expertise because each will have different technical abilities in order for the users to run it well.