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msnewbie

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hi my name is stephanie. im completely new to all of this..and im definitely going to be taking a few classes but i was hoping for now, some incredible people can guide me...
ok so... in order to purchase a domain of my own (with intent to sell a website) do i have to pay for it on a website? if so,what website do you recommend?
what option do i choose when it comes to length of time for domain? (that really confused me) because if someone purchases my domain, then what happens if i dont renew payment?

i really appreciate any advice you can give...
any other suggestions is greatly appreciated.
 
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