I always laugh when people say that cloud hosting is cheaper. Have you done the math?
It is *far* more cost-effective to buy your own server. Sure, you’re not getting all the nice features that AWS might offer (e.g. scale on demand, backups out of the box) but the vast majority of people don’t need it. You end up paying 5x more money for features that you will never ever need or use.
If you are running a server year-round, start small by running your own. If you ever *need* some of these extra features then you could revisit AWS and friends.