Bill is Pat's son, so that is important to know.... lol
Yes there are many things to know about websites. I facilitate 2, one I make changes on a regular basis, the other I have to request changes. You need to decided what you want up front, and when a webmaster is making changes it costs.
In the beginning however, there should be a set fee for so many pages to go up online, agreed in a contract.
1)The domain name is something you pay for anywhere from $16-$60 depending on who you get this from. Register it in your name, so it belongs to you.
2)Server, that is where the website is at. This can cost $25 to $60 a month. I like the idea of using the same server that my webmaster uses. Many webmasters run their own servers too, so their hours fee and server fee might be included in your monthly price.
3) Addition work done to your website, after the intital website is up online. $$ per hour is what they usually charge. If you can and want to make changes yourself, then it will cost you less. The website has to be set up so you can make changes.
I say go with someone that others have used in the past. Just using someone in your area can get you into trouble sometimes. I tried that too. Almost lost the Slipcover Network website a few times....yeek
Hope this helps