Including when the cheapest one is the right answer.
Drag and drop, hosting included, live the same day. Right for a first site, a single landing page or a business whose site is a brochure. The limit is that you work within what the builder does.
The usual middle. You own the files and database, anyone can be hired to work on it, and almost anything you need exists as a plugin. In exchange it has to be kept updated, which is a real and ongoing cost.
Worth it when the website IS the product - unusual logic, an application, an integration nothing off the shelf does. For a brochure site it is a large bill for something a theme does equally well.
An AI builder produces a real first draft in minutes, which is genuinely useful for getting past a blank page. Treat the output as a draft to edit, not as a finished site nobody needs to read.
Four things to ask before you choose, in the order they will bite.
If the answer is somebody non-technical in your own office, that rules out most custom builds and points at a builder or WordPress.
A WordPress site is files and a database you can move to any host. Most builders are a subscription you cannot export in any useful form. Ask this before you start, not when you want to leave.
For a custom build, ask who else could pick it up. A site in a widely-known stack is cheap to hand over; a bespoke framework with no documentation is not.
If the site has to calculate, integrate or enforce something specific, say so early. That requirement is usually what moves the answer from builder to WordPress, or from WordPress to custom.
Prices and plans for each of the three routes.