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This is a massive plus of website builders compared to web developers. A web developer can cost between $300 and $1,000 for template customization alone, and a fully customized website built from scratch will often amount to thousands. Making your own website using a builder, meanwhile, allows you to get a fully functioning website up and running for less than the price of a coffee.
You can absolutely do that. If you want to upgrade to a paid plan to get some of the features you want, then you can switch at any time through the My Products option in your account or with the help of a GoDaddy Guide. Once you upgrade your site will have all the same customizations and work that you've already put in place, just with the added features.
Your website needs a place to live on the web, and the quickest way to reserve your web address is to find a web host. There are a variety of cheap web hosting providers, and each one has a specialty. Look for a web host that offers a price that fits your budget, has the web tools you need to create your envisioned website, and provides support when you need help or have problems.