The complexity involved in choosing and buying a domain name is twofold.
First, you must think of a suitable name. Most people start websites with a specific purpose or theme. If you are hoping for a domain name that is roughly associated with that purpose or theme, the number of possibilities drops even further.
After you’ve decided on a name it also must be still available. There are already a ton of names that have been registered – as of Q1 2024, there have been a total of 362.4 million domain names that have already been registered. To put this into context, the second edition of the Oxford English Dictionary has complete entries for 171,476 words.
So if you want a domain, you have to hope it hasn’t yet been bought or that the owner is willing to sell it to you. The following sites are some of the best sites you can perform domain searches and purchase them at affordable prices.
How to Choose the Right Domain Name?
Although technically you can register any domain name as long as you qualify for it, there are general guidelines to choosing better domain names.
1. Keep Your Domain Short and Simple
Short domain names are in very high demand and unless you’re opting for a nTLD, it isn’t likely you will find a suitable one very easily. Many short domain names have already been registered, for example one.com or g.cn.
Shorter domain names are easier for visitors to type as well as remember. This is especially helpful if you’re not a global brand such as Nike or Coca Cola.
Examples:
voice.com 360.com insurance.com rise.com pingdom.com goal.com
2. Avoid Slang
Because so many domain names have already been bought, the process of finding one that you want can be a frustrating and tedious process. However, do try and avoid using slang such as replacing ‘you’ with ‘u’ or ‘right’ with ‘rite’ as this makes it more likely your visitors will make typos.
3. Avoid Special Characters
This goes back to the point above about avoiding slang. Using digits (1, 2, 3, etc) or symbols like hyphens ( – )between words can help you find a domain name more easily, but they are difficult to type, and visitors are more prone to make mistakes. These factors easily cause confusion and can lead to frustration among potential visitors.
4. Use Strategic Words in Your Domain
Again, this might be very difficult to do but using a keyword that is associated with the nature of your business can be helpful. It acts associatively for people who hear it and can give you a leg up in terms of SEO as well.
For example, a domain name like BostonLocksmith might be helpful to a locksmith serving the Boston Area.
5. Be Cautious of Area Targeting
Although I gave the Boston example above, it would be wise to take care how it is used. Online businesses, for example, eCommerce shops, are often borderless and using an area-targeting keyword in your domain name wouldn’t be as effective. In fact, it can often be misleading and might result in the loss of potential business.
6. Choose the Right Domain Extension
Domain name extensions vary greatly and come at different prices, even if bought new. In fact, there are some domain name extensions such as .tk which are entirely free. Use them with caution as free domain name extensions have often been abused and many have gotten a very bad reputation.
Personally, I recommend using reputable TLDs or at the very least a ccTLD, especially if you’re in business.
7. Try a Domain Name Generator
If you really can’t decide on a good domain name and you’ve run out of ideas or friends to ask, there is another option. Try using one of the many free domain name generators floating around the Internet (see below). Even if you can’t find the ideal domain name, some of the suggestions may give you a new perspective and some inspiration.
How to Register a New Domain Name?
The actual registration process of a domain name is something that should easily be completed in a few simple steps. The basic format is: search, choose, then buy. Although some of the terms used by sites that sell domain names may vary, the process should be similar.
1. Search for the Name You Want
Most registrars will have a section specially for domain names. There you should find a search box where you can type in the domain name you want. I recommend you type in the complete domain name, inclusive of TLD.
To perform a domain search, simply go to Hostinger Domain Checker.
2. Choose from the List Available
Once you’ve typed in the domain name you want, the system will do a search and see if it is available. Irrespective of whether it’s available or not, you will often be shown a list of the same domain name with various other extension you might want instead.
If none of these options appeal to you, then go back to step 1 and repeat the process until you find one that you’re happy with and is available. Some sites allow you to search for more than one domain name at a time.
3. Finalize Your Purchase
Once you have chosen the domain name you want to buy, the site will often ask if there are add-ons which you would like as well. Take note of what they offer as some of them offer greater privacy for you.
You also need to select the term of the purchase, meaning how long you want this registration to be for. The minimum length of time you can register for a domain name is one year. Once that’s done, all you need to do is pay for your purchase and details on managing your domain will be sent to you via email.
How Much to Pay for a Domain?
Domain names are just like any other product you can buy in stores. The price will vary depending on when you buy it and where you buy it from. For example, sites may have domain name sales from time to time.
Another factor that contributes to the price of a domain name is the extension. Different domain name extensions have different purchase and renewal prices. The .live TLD as an example can cost as little as $3.48 to register and $25.98 to renew annually.
Sometimes sites will also lower domain name prices based on how long you do your initial registration for. A one-year registration is standard, but they might drop the price if you register for two years or more at the same time.
Because of this, there isn’t really a ‘standard’ on how much a domain name will cost you. Thankfully, much like airline tickets, there are places like TLD-List, where you can gather this information quickly to buy the domain name you want at the lowest rates.
As a general guideline, most TLDs will cost around $10 to $15 per year. If you buy an aged domain name, that will cost you much more depending on age and keywords. Free domain name are of course, free, but there is often much fine print you need to be aware of.
Saving Tips on New Domain
- Some hosting companies give out free domain name to their first-time customer. You can take advantage of these deals to save money. Web hosts giving out free domain include GreenGeeks, InMotion Hosting and Hostinger.
- NameCheap runs special promotions every month – the discount goes as high as 98%. Remember to check out their website before buying a domain.
How to Buy a Domain When It’s Taken?
What if you wanted to purchase a domain that’s already active instead? You can choose to purchase active domains and transfer ownership through services such as a domain name escrow.
What is a Domain Name Escrow?
A Domain Name Escrow basically an independent third-party agent that assists in the selling-buying process of domain names on the internet. These sites provide a safe way for buyers to purchase domain names from sellers who want to let go of their domain name.
There are a number of domain name escrow services available, but here are a few that you can check out: Escrow.com, Sedo, and BuyDomains.
Buying a Registered Domain Using Escrow
Let’s say you found a domain name and both you and the seller have decided on the amount. The conundrum becomes: How do you safely pay the money and make sure the owner transfers the domain ownership to you?
That’s where escrow comes in. You can use escrow services to make sure that the transaction goes about smoothly. How do you actually do that? Here’s how:
- Set up an escrow transaction between you and the seller
Register an account at an escrow service site, and determine the terms of the transaction between you and the seller, which includes the domain name(s) and sale price. - Make your payment to the escrow company
Once you decided on the amount, you make your payment (via wire, credit card or any other method) to the escrow company. - Domain name is then transferred from the seller to you
When the escrow company receives and verifies the payment, they will then instruct the seller to transfer the domain name to you. - Confirm that you’ve received the domain name ownership
You’ll need to confirm with the escrow company that the ownership of the domain name has been transferred to you. Use WHOIS to check if the owner profile has been updated or not. - The seller receives the money from the escrow service site
The escrow company will verify that the domain name has been transferred and they will then give the money to the seller, minus their fee. (You can decide beforehand which party pays the fee or have it split down the middle.)
Determining the Value of a Pre-owned Domain
When you’re looking for a pre-owned domain name, which can usually be found on aftermarket services, private sellers, and auction houses – you’ll notice that their value can range anywhere from a few dollars to as high as a six or seven-figure range.
These might not be the best place to get a domain name if you’re just starting out.
How an existing domain gets its price can be determined by a number of factors such as length, language, trends, and demographics. There’s no one single method that can give you a perfect asking price. There are ways, however, to give you a ballpark estimate of a domain name and it requires a little bit of researching on your part.
1. Using Recent Domain Sales
A good rule of thumb to understand how domains are valued is by looking at recent sales. A look at the recent sales can give you an idea of what type of domains are being purchased and for how much.
DNJournal posts a domain sales report which they regularly update and in it, they list out domain names that are recently sold from multiple premium domain services. When looking through, pay attention to the domain’s keywords, length, and other related factors to get an idea of how a domain name is valued.
2. Using Online Domain Valuation Tools
The other way to determine a domain’s value is through a domain appraisal service or an online valuation tool. These sites will allow you to enter a specific domain name and will give you a suggested asking price for it.
A few of the sites that you can check out are Estibot, WebsiteOutlook, and URL Appraisal.
These sites determine the value of a domain using SEO-related factors like search ranking, keywords, Alexa rank, monthly searches, number of searches, and cost per click.
One thing to note is that different sites can give you different estimations. A good plan would be to use several different sources and compare them to give you a better estimation of a domain name value.
Again, there are no definitive prices for buying a domain name and you can expect them to fluctuate quite often. If you want a general idea of domain name prices, you can go to sites such as Afternic or Buy Domains to get a feel for the cost.
