I am looking to put together my first website/page!

1) Should this be something very simple and build upon that, or should I go ahead and put down my ideas on paper first and start working from that design?

2) For my first page, which I will probably use going forward for my portfolio, should I use the space that my ISP gives me, or should I buy space? And if I should buy space, who and what site is the most reliable and most space for your buck to buy?

Thanks so much everyone!!