... tried to do a full backup but i didnt understand d options given to me which were: 1) 'backup destination' with options 'home directory', 'remote ftp server', 'remote ftp server - passive mode transfer' and 'secure copy (scp)'. 'home directory' was d default choice and i didnt know which one to choose as i havent bought my new hosting account yet, i am only making preparations for the soon-to-be-effected transfer. ...
Assuming you have an FTP client, simply click the "Download or Generate a Full Website Backup" button. On the next page, click "Generate Backup". That's it, nothing else to do.
Now, wait for the email from your account telling you the backup has been generated. Once you get that, login via your FTP client and you'll find the new backup in the root of your account for downloading.
If you don't have an FTP client, find the File Manager in your cPanel and open it. Scroll down the right side of the page to find the backup you created listed there. Click it once, then at top of page find the "Download" icon, click that. Now save this backup to your desktop or where ever you store files.
It's always important to have an up-to-date backup saved locally for safe keeping.
That said, once you've selected your new host and purchased an account, explain to him that you're on a cPanel server right now, and you'd like him to move your account for you. Give him the details for your OLD account and they can login and move the account for you easy enough.
That backup he would create and move for you, is the same backup you have sitting on your desktop we just downloaded earlier.
cPanel makes it easy. :p
GL!