Firstly, it is important to determine what your website is going to be about. If you are buying a domain name to start your own website, then you are going to have a higher flexibility as to the domain name that you wish to use. Since you have a flexibility with the name, the important idea here to make sure the duration for which you are paying to the hosting company and also the services that they can offer you. There is a reason for which the duration and the services are key. If you are willing to play around a little with the domain name, you may even be able to purchase a domain name for as little as $8.00 or even lesser.
However, the problem that a lot of individuals face is the lack of knowledge of creating and maintaining a website. Here is where you may end up spending far more money than you thought. Hence, you may purchase a domain name for $8.00, however, if you are paying $20 to buy a website building tool, then as a whole you are spending a lot more. This is the main reason why it is important to investigate as to what services are offered by the domain hosting companies. Some of the websites that sell domain names also offer other services and tools that can help you create the websites.
Choosing a domain name is going to be more straight forward if you are in a business and are going to launch a website to promote your business. In this case, you would want to buy a domain name to match the name of the business. If your domain name is available readily, you are not going to require to pay a lot of money to buy it. The problem arises when the domain name that you want is already registered by another person. There are a number of websites that resell domain names. Especially if you are starting a new business and already there exists a website with your business name, rather than buying over the domain name at a premium, the better low cost alternative will be to tweak the domain name a little. To give you and example, you have a Cake shop named Mary Cakes and is located in Solvang, CA.and you do not find the domian name available. You may then use ‘SolvangMarycakes’ as your domain name.
You can follow the above steps to cut your costs of buying a domain name. In the process also make sure that your domain name is not too long and is easy to remember.This can go a long way in giving you back a good return on your investment.