Managed services may cost you a bit of a premium, but the best managed WordPress hosting providers are worth every penny. You won’t realize how much you want that extra level of support until something goes wrong. If your site going down due to expected or unexpected reasons would be detrimental, and if you don’t have the technical expertise to get things back on track, I’d highly recommend looking into managed hosting. Consider it an investment in peace of mind.
In housing terms, VPS hosting is like renting your own apartment in a larger building. You're much more isolated than in the roommate situation mentioned above; it's still possible that a neighboring apartment could causes annoyance for you, but far less likely. In web hosting terms, Site A's traffic surge won't have nearly as much impact on Site B or Site C. As you'd expect, VPS hosting costs more than shared hosting. You'll pay roughly $20 to $60 per month.