Question: Is it possible to set my newly created custom page in my SharePoint site as the home page.

Ans. Yes, it’s possible to use a custom page as a home page. You can set it in multiple ways:

• If you have enabled the Publishing features on your site, or your site was created from a Publishing template, then you can just go to Site Actions, Site Settings and click Welcome Page, then select a page.
• You can open the site in SharePoint Designer, right-click any .ASPX page, and select Set as Home Page.
• If you're a developer, you can set the home page by using code. See the MSDN page "SPFolder.WelcomePage property" for more information.
• If you're a SharePoint administrator, you can use a Windows PowerShell script to select a master page:

$site = Get-SPSite http://yourserver/sites/yoursite

$web = $site.RootWeb

        (or $web = $site.OpenWeb("yoursubsite")

$folder = $web.RootFolder

$folder.WelcomePage = "SitePages/home.aspx"

        (or  $folder.WelcomePage = "default.aspx")

        (or  $folder.WelcomePage = "Shared%20Documents/mycustomwebpartpage.aspx")

$folder.update()

$web.Dispose()

$site.Dispose()