In order one website to go live, you need 3 parts: domain + hosting + website source.
In this your case, you've just only had the 1st part, that is your domain name. So the next steps are you should buy hosting and make a website.
About buying domain, you can buy hosting from many big guys such as: Godaddy, iPage, Fatcow,...Especially with Godaddy hosting, you can buy just only for $1/month + free domain. Or you can research many other big guys to compare their service each other here Top web hosting. You can buy hosting as simple as you buy the domain.
After you have your domain and hosting, the next step is choosing the website source to build your website. The most commonly open source that is Wordpress. You can visit here to download the source for free and install it on your hosting. Don't forget to read carefully about the document before install. At this stage, you have domain, hosting, and a website installed on that hosting.
The next step is you need to point your domain to your hosting. The pointing process is based on each domain registrar you purchased. Read them at registrar website document. Basically, you just need to replace their default DNS to your hosting DNS that your hosting provider give you.
About free DNS, currently the best services are CloudFlare and Namecheap, you can try both to test.
That're all you need to run a website. Good luck to you.
