Most important thing is price. I short list web hosting companies with attractive prices and what specification they are offering in this price.

Second thing to check is up-time. There are many websites that track uptime of web hosting companies like SiteGeek.

Third thing is the support. I always check support response time and their quality by making some technical queries.

Other features vary with website requirements like auto installer for CMS, number of emails, domains/sub domains, MySQL, bandwidth limitations and website builders etc.

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