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Start with the job the drive has to do. For bulk storage and backups inside a desktop, a 3.5-inch SATA drive gives you the most space for your money. For a network-attached storage box or a home server running 24/7, buy a purpose-built NAS drive rated for continuous operation. For surveillance and always-on camera recording, a dedicated surveillance drive is tuned for constant streaming writes. And for storage you carry between machines, an external or portable USB drive is the simplest option.
Once you know the type, the specs that matter are capacity, spindle speed (RPM), cache, and the recording technology (CMR vs SMR). Pair whichever HDD you choose with an SSD for your operating system so the whole system still feels fast; the HDD then handles the bulk data where price-per-terabyte, not raw speed, is what counts.