When it’s time to start your business online, then securing a domain name is the first step. Regardless of whether or not your business is established, you can’t create a website without a domain name. If you’re like most business owners, you’re probably wondering how much do domain names cost? You might also have questions about how much time you should spend looking for the right domain. Fortunately, we’ve got the inside scoop on what you need to know. 

Your domain name essentially functions as your website’s address, so you want to make sure you have one that is simple and relevant. You’ll also want to make sure it’s easy to remember so that people can easily find you and your business online. With all of that in mind, it’s easy to see why some people are willing to break the bank to get the domain name they want. If your domain name is just right, it can greatly increase website traffic. Here we go over everything you need to know about domain names and what goes into how much they cost.

What You Need To Know About How Much Do Domain Name Cost

Read on as we discuss what a domain name is, why you need it, and how much do domain names cost.

What Is A Domain Name

You don’t want to shell out a ton of money on a domain name without first understanding what you’re paying for. We mentioned it above, but a domain name is the web address you type into a browser to bring up your specific website. It typically will start with https or www and will end with something common like .com. You’ll recognize some of the higher profile (read: high traffic volume) domain names like www.google.com or www.irs.com

Why Do You Need To Purchase One

If you want to have a website, then registering your domain is absolutely necessary. There are three main reasons why you might need to buy a domain.

First, you’re building a website. You’ll most likely use a domain name that ties in with your business name or utilizes keywords that are related to your company. This is a non-negotiable part of the business world – you need a domain name.

Another reason you might register a domain name is when you’re considering starting a business or website. If you have a great idea for a business or a website, then you might want to jump on registering the domain you want. Stake your claim before anyone else comes along and takes it before you’re ready to execute.

The third reason that people start to wonder how much domain names cost and start registering domain names is when they are investing. Domain name investing was really popular at the start of the internet age, when popular keywords were still available. Nowadays, a lot of domain names are already taken, but domain investing can still be a great way to earn money. Especially if you’re working with a domain broker, you can find domains that have the potential for significant value and buy them now so that you can sell them for a profit later.

How Much Do Domain Names Cost

In general, you can purchase a domain name for $2-$20 a year, depending on discounts available and who you’re purchasing it from. Newer domain extensions, the part at the end of your address, like .app or .info might cost more, as they are newer on the market.

We can break down how much do domain names cost based on a couple of factors. Like we just said, the domain extension can increase the price, using .com might be more expensive than .shop. Where you purchase your domain name is another factor. A reputable registrar might be less expensive than an aftermarket service or private seller.

Additionally, if you choose to register for multiple years and electing to include domain privacy can also increase or decrease the price of your domain name. You’ll find that the most expensive domain names will be the ones you’ll find on auction houses, through private sellers, or aftermarket services. 

Unfortunately, there are no hard or definitive prices for domain names, regardless of the avenue you choose to purchase from. The domain name industry varies just like real estate. Sometimes it’s a sellers market, sometimes it’s a buyers market.

Make sure you consult a domain broker if you’re looking to buy from a private seller, or are looking to purchase a domain that is already owned. Brokers are experienced and can handle all of the ins and outs of the acquisition and negotiation process so that you get the domain you deserve at a fair price.

Why You Should Hire A Broker

Like we mentioned above, hiring an experienced domain broker might be the best idea to make sure you get the domain you want. In today’s digital market, there isn’t really a reason your domain should cost an arm and a leg – unless you have zero flexibility in your name choice. It is rare that your domain cost will be high. 

With that being said however, you should look out for hidden fees, discount scams, and even hidden costs in your written agreements. This is where having a domain broker on your side comes in handy. They know the lingo, they’ve negotiated before, and they aren’t emotionally invested, which means they just want to get you the best deal. 

Let a broker help you navigate this industry, and help you determine what might be too good to be true. Sometimes when a great domain seems really cheap, it might be because there are hidden fees when registering. A domain broker can help you choose a reputable registrar and find the right price. 

At Name Experts, we encourage you to do your due diligence and research domain registrars and the cost of domain names. You don’t want to end up getting scammed or pay way too much for a domain. Instead, let us show you how Name Experts got its name, and answer all of your questions, including how much do domain names cost. Reach out to us today and let us help you with all of your domain name needs.

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