Resize Droplet or Create a New Server (WordPress Site)

Hello,

I’m new to managing my own server, so please bear with me.

My set up currently: A WordPress site on Ubuntu 16.04.1 x64. My current plan is the basic $10/mo, Shared CPU 1 vCPU 1GB / 30GB Disk. I am using ServerPilot to manage the server.

Since I initially set up the server, my site has grown both in size and traffic. And while the site still loads fast, there are times when it’s very slow. And I think it’s time to upgrade.

My question is which one of these two options is better and easier to go with for a beginner with less risk of data corruption, less downtime or other issues.

**Resizing the current server by upgrading the current plan? ** Or

**Just create a new server (with a better plan) and migrate the site to the new server? **

You can see the latest graph stats here https://ibb.co/9p1ZQX6

(it’s for the last 14 days. There was a spike a few days ago which was related to a plugin update that has been solved. So that spike is not the norm.) Sorry, couldn’t find a way to upload the image directly.

Now, for either resizing or a new server, I am thinking of going with this plan:

General Purpose Dedicated CPU 4 vCPUs 16 GB Memory 30 GB SSD 5 TB Transfer $120/mo

I would appreciate any help. Thank you very much in advance. Much appreciated.