Before you decide to create your own website, you should evaluate your own skill level. If you have made websites before and have experience with XHTML and CSS, you can skip to the next step. If you do not, you should start learning or consider one of the alternatives.
The second step is to decide if you want a dynamic or static site. If you choose dynamic, you should then choose a content management system (cms). Some web hosting providers will install a cms for you. Make sure you check with them. Finally, you will need to setup some type of management policy for updating the site regularly. Gone are the days of sites that can just sit there unchanged and receive thousands of visitors.
If you have no experience in web design, cannot afford to hire someone, and have no intention of learning, you still might be able to get by if your host will install your cms for you. Then, you can download a free template or purchase one. If you do not like that option, consider a site creation tool or software.