Website, how much and how long will it take to be approved

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What is the advantage of having your own website over a website which is a free one and just got it from a free website... how much will it cost to have one and how long will it get approved before you can use it.. I joined several free design your own websites I got from the net but after a few tries I discover that it's not working and there are so many restrictions, like you cannot join another website or that you cannot post this on your website because it is not allowed... In other words there is no freedom for you to do whatever you want to do and devise it in such a way that you could earn income from it... One of the website I joined allows you to blog, post and put ads on it but you can only cash out after you reach $100!which is almost impossible because you only earn a centavo from your blogs, ads,etc...