admin answers:

>>it is good for one year until I renew it. Does this mean that once the year is up and I want to use another website that I cannot transfer my domain name over?

You can renew your domains any amount of years you want. All you have to do is when you receive an email from godaddy that your site is expiring, login in to godaddy panel and renew it.

>>Are there any other good website building sites?

You can download a html editor and develop your own site template. Or as you are new, you can download a free web site templates from internet and use them.