It doesn’t have any effect on your website. The location of the server will not matter on SEO perspective. However your traffic will be greatly affected if your hosted server has a lot of downtime. SEO is an important factor with the success of a website. If you have limited budget and just launched your website, you can do your own SEO work to boost the ranking of your site. There are available free SEO guides online that can help you get started. However you must be careful to avoid black hat techniques often times done by cheat the search engines which only result in sites being penalized or banned.