Nearly, but not alwaysmleh said:You'll get a better deal if you get hosting seperately.
When you sign up for hosting your host will tell you what you should set the Nameservers to - this is an option in the Godaddy control panel which in English means "where should computers look to find out where this domain is hosted"tbs said:okay, ive bought a domain from godaddy.com, how do i use my domain name for a website im gonna build, how do i forward it on?