Sorry new to bitcoin and was wondering if the following steps are correct to create a paper wallet.

1.) Create a Bitcoin Address and Private key at bitaddress.org and print it out.

2.) Go to localbitcoins.com and purchase 1 bitcoin from seller and have them send it to my bitcoin address.

Is it as simple as that?

Also is it wise with paper wallets to create a new bitcoin address and private key for each coin, or part of coin, that I purchase for added security?

Thanks