Originally Posted by James

None of them are expensive; all of them can be. It just depends on what you want to spend.

Hosting and registration are not too expensive but can be relatively so if you end up with a dedicated host and related services like email management, etc.

Software can be quite expensive if you go with the full Adobe Creative Suite (Dreamweaver, Photoshop...) to the tune of around $2500.00.

Hiring designers and programmers can be any amount you are willing to pay.

On the other hand there is no reason to pay for any of it except domain registration (a few dollars) and hosting (you can get it free but I wouldn't recommend it.