How to set up wireless so that my neighbour can access the internet and LAN

I have a ADSL modem with one port, switch router with 5 ports, 2 PC and three Laptops in my home which im currently using the wired networking. As i know that, the wireless can reduce the cable and make it convenient for laptop user we can have a flexible space, some more i have grant my neighbour to accessing my internet connection whereby i have the wireless at the future.

So up to now, i would like to set a a wireless network, but im not so sure the disadvantages and the internet connection will realiable or not.

Hopefully techrepublic can guide me for setting this wirelessa and what devices that i can consider.

Thanks for your kind attention