Host your sites yourself.
 

Does anyone has experience with hosting your site yourself?

Is it cheaper in the long term? And will it be fast enough?

what do you mean?

I'm not sure if that's a good option, especially as there are hosting services that are cheaper than running a computer 24/7/365.

Is that a company? Never heard of it. You should check out ad section to find good deals.

Well if you can get hosting for 5$ a month why would you waste time on that

No, I don't have experience to host any website myself but I think it is also a good option to select a good web hosting service.

Can say that QHoster.com web host is perfect. They have hosted several websites for me and I have no complaints. The pricing plan is good, and the control panel is nice as well. They even have nice scripting extras and spamassassin.
Their tech support always answers my questions within 5 minutes.