"...highly cost effective."
— Alexander Sawyer What They Say

How should I set my site live by moving it from its temporary location to its final location?

It is common to build a new WordPress site in a subdirectory like yourname.com/new (or similar) then move it to yourname.com, so that the old site remains online while the new site is being made (see our staging guide). After your site is done, you can move it to the final location. Here are some tips:

Be sure to back up your website before doing these things. The WordPress Codex has a Moving WordPress entry with additional information.