In case you still need to decide what would fit best for you, Bluehost’s support is ready to take care of you and guide you towards successfully launching your website. Moreover, with their help, you will get the most out of the package you will pick. Advisable would be to go with the cheapest option which would be more than enough for small and new pages. 

Regarding domain names expiration. There is no option to wait for the domain name to get expired and then register it again. In most cases domain “investors” will pick up these domain names or domain regisrars will keep them for the auction since they have to pay only ICANN fee which is 0.18$ for the domain name. Never assume that you will be the first one waiting for a domain name to expired. In the best case scenario you will just pay premium for in in an auction.
A domain name is a website address made of a website name, followed by a dot, then an extension like .com (fitsmallbusiness.com, for example). You can receive a free domain by buying web hosting packages that include them or via domain name registrars offering little-known extensions like .tk. Paid domains offer extensions that lends to greater business credibility like .com or .net domains.
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