I prefer to host it myself, as I've had issues with tps lag on vps's / paid hosts for minecraft, also I am a college student so I try and avoid monthly costs, currently my minecraft server has been free for 2 years.
I can understand lag for paid hosts for minecraft. Im sure they oversell. Im unemployed and $5 I month is nothing. A budget of $700 for a server I need to keep up would run a really fast VPS for what 140 months.
Im not going to twist your arm but a DIY server in the cloud would destoy any server in your bedroom for $700.
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That. Get something you can get billed yearly. Set the money aside for two years and set a reminder in your calendar to terminate the lease in time.
I am an university student and I pay 6,99€ / month (7,50$) per month for a VPS that I can cancel monthly.
Getting a VPS is less comittment than spending 700$ right here and right now. 2 years of lease will be about the depreciation of your physical server in the same amount of time.
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I want to host everything myself because I want to use it as a learning experience, having the hardware in my apartment will allow me to tinker, which I love. Also having a VPS doesn't solve my need for a nas, which I need to buy anyway.
I was looking for that $1/GB RAM for a while and thought it had disappeared from eBay. Thanks man, I'm gonna pick some up :D
http://www.ebay.com/itm/SUPERMICRO-4U-24-BAY-846E1-R900B-X8DTE-F-2X-L5520-8GB-24x-TRAYS-ASR-5805-/172344741754?hash=item28208c0f7a:g:5rwAAOSw8gVX3HMQ Is a solid investment if you ask me
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BREATHES HEAVILY
The cpu's in that are pretty slow. A 2 CPU system has half the passmark score my i5 has, my laptop has a higher passmark score.
https://cpubenchmark.net/cpu.php?cpu=Intel+Xeon+L5520+%40+2.27GHz&id=1260&cpuCount=2
https://www.cpubenchmark.net/cpu.php?cpu=Intel+Core+i5-2410M+%40+2.30GHz
????
7000 > 3000
your i5 is only slightly faster according to that specific site.
Could always upgrade those processors.
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I have a desktop machine. For nas I bought a 4 drive housing. I run BTRFS on it with 4 drives now I have populated it fully and the VPS I have has a copy of the critical data via nextcloud and that backs up.
If you dead set on all the hardware yourself watch Wendell's dumpster diving videos on getting old hardware from business for cheap. It may be ugly and noisy on the floor of your room but there is solid server hardware out there to be had second hand.