If you plan to launch a website for business or personal needs, one of the first critical steps is to select a domain name. The domain name is what people would search for, when they are looking for your website. Most of the four-letter domains are now sold, while some of the best ones come for a premium. Yes, you have to pay for the domain, and there are many factors that affect the price of a domain name. In this post, we are discussing some tips that may come handy for selecting a domain name.

• Know your niche. A website that plans to sell chocolates cannot have a similar domain name as that of a cleaning business. Domains are selected for a niche, keyword or business as required and not the other way around. Find more on what your target audience is likely to search for, consider if your business is going to be location specific, and whether you want to pay a tad more for a premium domain.

• Select the right domain registrar. For the uninitiated, domain registrars refer to services and websites that buy and sell domains for a profit. Some domain registrars are cheap, others may charge more than others. While the final price depends on the domain itself, you have to check the terms & conditions, as well as, the reputation of the domain registrar before signing up.

• Think of your budget. Are you ready to pay for a premium domain? You would be surprised to know the prices, if you check the list of top level domains. For example, a name with just four or five letters with sell for thousands of dollars. The price you pay should be relevant to the purpose of launching the website.

• Keep other costs in mind. Domains must be renewed on a yearly basis, although you can buy for once for a much longer term. There is a onetime fee, called the registration charge, which must be paid, but you also need to pay for additional expenses, such as domain protection, SSL certificate, and renewal. Some expenses are optional with most domain registrars.

• Think of the extension. The price of a domain name with any service also depends on the extension. For example, if you look for “.com” domains, the cost is likely to be higher for a premium name, compared to the same name with extensions like .info, .au, or .biz. Although it is a matter of choice, do consider a .com domain if your budget permits.

Things to know

If you check with known domain registrars, you will realize that domains are priced in advance, and that charge is fixed. However, it is possible to negotiate with someone who already owns the domain. Don’t shy away from checking the contract in detail, so that there are no additional expenses or charges associated with the purchase. Your domain is an investment for the website, so opting for a premium is never a bad idea, provided you can afford it.