If you’re looking to build a website, then one of the first things you’ll need to do is buy a domain name for your new project. But, how much is a domain name actually going to cost you?
Well, that depends upon a bunch of factors, as the cost of a domain name can vary based on several factors. For example, be prepared to spend a bit of money on domains that someone else already owns.
Some older domains have gone for millions of dollars, specifically domains that are very broad such as single word domain names like insurance.com, hotels.com, and investing.com
So, if you want a single word, used domain, then be prepared to spend a lot of money on your domain name.
On the other side of the equation, you have new domains. The average cost for a brand new domain will typically be anywhere from $10-12, depending upon the registrar you choose and the length of your registration contract.
Below you’ll learn why some domains are more valuable than others, the average costs for getting a domain name, and some tips to help you get started.
How Much Does a Website Domain Cost?
If you’re just getting started online, then the best course of action is to choose a new domain. A new domain will be cheaper, and allows you to build your own brand from scratch.
Typically, you’ll be paying around $10-$12 for a new domain, depending upon the domain name extension you choose.
Some extensions like .biz, .xyz, or .info, along with hundreds of others will end up being incredibly cheap because internet users aren’t quite used to those extensions and they don’t pack the same kind of punch.
Some extensions will lead to even higher registration fees, like .co, .ai, .io and others.
Other costs you’ll want to research include:
- Renewal fees. Some registrars will charge a cheap registration fee, along with a pricier renewal fee. Make sure you’re aware of the price increase upon renewal (if there is one).
- Privacy fees. Some registrars will charge additional fees to improve the privacy of your domain. This service will hide your contact information from public records.
- Transfer fees. Sometimes you might want to switch registrars. Make sure there aren’t any hefty fees associated with migrating your domain out of your current registrar.
Buying a New Domain Name
For most people, they go with the option of purchasing a new domain name. It’s the quickest and cheapest option, and with a little creativity, you can find a solid domain.
First, you’ll need to choose a domain registrar. For the sake of example, let’s say you’re going to register your domain with HostGator.
- Navigate to https://www.hostgator.com/domains
- Type in your domain of choice. This will let you know if the domain, along with your desired extension is available.
- If it’s available, then follow through with the purchase.
Buying an Old Domain Name
If you’ve found the perfect domain, but someone else already owns it, follow these steps to see what you can do it your domain name is already taken. This is only recommended if you have more cash to spend and require a very specific domain for branding purposes.
You may have to visit a domain auction site and make an offer for the domain. Keep in mind that you’ll probably have to do a lot of back and forth negotiation to secure the domain, and the price could be very steep.
You can also find expired domains, that might have an existing link profile and authority. Just make sure you thoroughly research the domain before making a purchase.
Domain Name Fees to Watch Out For
Sometimes you might not be getting as good a deal as you think when registering your domain name. Below you’ll learn about some hidden charges you’ll want to watch out for:
- Hidden fees. A lot of times what might seem like a good deal up front won’t actually be a good deal. Sometimes fees will be buried within the terms of service. Look out for things like transfer fees, increased renewal fees, long-term domain contracts and more.
- Short-term discounts. Some domain registrars will offer seemingly good discounts, but this discount will only apply if you register for a long-term contract, or pay for multiple years up front. Short-term coupons can help you get a cheap domain up front, but make sure the costs won’t increase drastically after the first year.
- Scams. Some domain registrars that offer ridiculously cheap, or even free, domain names will end up charging very high administration fees, or even manipulating your Whois records. Make sure you’re only buying your domain name from a reputable seller.
Which Option is Best for Me?
For most people, buying a new domain is going to be the preferred route to take. You’ll not only get the best deal, but the registration and purchase process will be the simplest.
In time, as your experience and online assets grow it might make sense to negotiate for a domain or purchase an expired domain.
But, when you’re just starting out make it easy on yourself and find a solid new domain.