The two options for Microsoft Office are are the license and the subscription. The license version is good for 1 computer. You need to buy the software (with new license) each time you want to install it on a new computer. Prices start at about $160 (per computer) and go up depending on what you want or need. The subscription services charges you $70 per year for what you (probably) want. You can have the software on multiple devices but they all have to be under the same account.
There is less management for the license version if you're not too tech savvy- basically install it and you're done. The 365 version offers cloud storage if you want to take advantage of it. You are also get updates with the subscription version. Plus you don't have to buy Office every time you get a new computer (since you're already paying for the subscription). You do have to set up an online account, though.
I have both versions- I have the license version at work and 365 at home. For my home PC, my brother actually has 365 Family ($100 per year) and that comes with 5 users. He's sharing one of his accounts with me, so I'm using it for 'free'. Both are equally functional.
good luck -jim