Peonies grow in well drained soil in sunny locations in nature.
If you have heavy clay soil be sure to add peat moss and if necessary build a raised bed to avoid standind water in the spring. Sandy soil also benefits from the addition of compost or peat moss. You should add 1 part compost or peat moss per 4 parts clay or sand for a good soil mix. Do not place fertilizer in the bottom of the hole, rather mix it well with the soil you are planting the peony in. If you plant too deep the plants take a longer time to bloom.