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In general, you'll want to rent your modem from your ISP. I know the monthly charge sucks but buying your own modem opens the door for your ISP to blame every little problem on you. By renting from your ISP, you'll get better support and be 100% sure it will work with their service.
As for your wifi router, I would recommend against spending big money unless you know what you are doing and/or know you need it. I have a Netgear R7800 running DD-WRT but that's more of an advanced thing. If you want simple and functional, I've been recommending Tenda routers for a while now. They're not expensive and they do the job. They seem to have reasonable coverage as well. The Tenda AC1200 model is particularly attractive because it's currently selling for around $40.
Can you give us a little more info about your setup? How many devices? Use cases, etc?
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