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There is no such thing as a "free" website. First of all, you have to have an internet connection, and in these days it better be fast... either DSL or cable. Secondly, you need a domain name... that's gonna cost. Thirdly you need a hosting server. If you provide your own server (they cost a lot) you still have to obtain web development software... which may or not cost (some are open-source and "free"), but in the final analysis, YOU have to do the design, etc.
Putting this all together, your time is not "free" unless you are doing this for a hobby, and all the items necessary to publish a website has costs.
If you are conducting a business, you must decide if you have the talent to pull this off (I can't imagine anyone learning html in a day as someone suggested). Finally, what will your end product look like? Home-spun or professional? You make the choice. Only you know your ability.
Very true - there are always costs if you are creating it yourself. Also if time=money then you spend money that way. i'd be interested to see which programs you all use to create these sites. I personally like DreamWeaver.