If you get a server of your own, it will work independently, so it will have its own Operating System and you'll be able to later install server side applications directly or script-driven sites via a hosting Cp. Even though keeping the Operating System updated isn't always considered an absolute necessity, it can be a quite important task for a variety of reasons. A newer Operating system version could have better support for specific hardware, so you may get better performance for the sites and web apps you install. Your server will also be more secure because updates often include security patches that fix small issues which may enable unauthorized individuals to access your content. Last, but not least, current script versions, which are also released for both increased security and for additional features, may require a later version of the Operating System in order to work properly and with their full capabilities.