I am thinking about buying my own server 

Why not just do it on Heroku or a similar system?


Heroku is a very good option especially when you are starting out. If you 
really want to go it alone, you could also use Linode or a similar virtual 
server system (I believe Amazon now has something), which cuts out some of 
the expense of having your own physical server but still gives you all the 
'I installed everything myself and know EXACTLY what's on my server' 
goodness. While it's definitely possible to go completely solo there are a 
lot of complications to an entirely independent system, things like 
upload/download speed from your ISP (they're generally not happy to relay 
lots of info out on non-business accounts, nor are they optimized to do 
so), the simple issue of maintaining connectivity & power at all times, etc.

UNLESS you are INCREDIBLY concerned about security & your information being 
on servers that you do not physically control - probably best not to buy 
hardware yet.

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