How Much Does a Domain Name Cost in 2023?

Domain name costs
  1. What is a domain name
  2. How much does a domain name cost
  3. Hidden costs of domain names
  4. Premium domains
  5. Expired domains and where to look for them
  6. Trends that affect domain prices
  7. Why domain names are important

If you ever wondered: How much does a domain name cost? you came to the right place. We will provide various options for buying one, including a free option.

The cost of a domain name is dependent on several factors, including the domains extension (such as .com, .org, .net), domain registrar, availability, and other considerations.

Have you ever tried registering a domain name? If so, you’ve likely noticed a significant price range, from as little as $9 to several thousand dollars.

In addition to a new domain name, premium domain can also be purchased from individuals who have already registered them. Domain name investors frequently register premium ones that are short, memorable, and brandable for the sole purpose of reselling.

What is a domain name and domain extension?

A domain name is the unique name that identifies a website on the Internet. It is the address that people type into their web browser to access a specific website, such as google.com or trustindex.io.

Domain names are registered through domain registrars and typically consist of two parts: the top-level domain (TLD) and the second-level domain (SLD).

The TLD is the part that comes after the last dot in the domain name, this is the domains extension. For example .com, .org, .net, .gov, .edu, etc. The SLD is the part that comes before the TLD, and it is typically the name of the organization or entity that owns the domain name.

Cost of new domain names

If you’re looking to buy a fresh domain name, the cost typically ranges from $9 to $14.99 per year, depending on the domain extension and the registrar you choose.

To get started with both a domain name and web hosting, we suggest using Bluehost.

Bluehost hosting services

However, if you only need to purchase a domain name, we recommend using Domain.com as your registrar.

Registration costs for different registrars (including free domain names):

ProviderPrice for .com domainRating
1. BluehostFree with hosting4.5
based on 5,200+ reviews
2. HostingerFree with hosting4.3
based on 30,000+ reviews
3. HostGatorFree with hosting4.2
based on 12,500+ reviews
4. DreamHostFree with hosting4.5
based on 700+ reviews
6. Network Solutions$7.993.7
based on 670+ reviews
5. Domain.com$9.994.0
based on 1,400+ reviews
7.GoDaddy$11.993.3
based on 10,000+ reviews

Please note that the above prices are for new .com domain names only, and the pricing of other extensions like .net, .org, .info, .blog, etc. may vary depending on the domain name registrar you use. We suggest using the .com extension as it’s the most popular one.

Hidden costs of a domain registration

It’s important to be aware of the hidden costs and upsells associated with domain name registration in addition to the initial registration fee.

1.) Yearly Renewals

Registration of domain names is done yearly, and the renewal of your domain name registration is required to maintain control over your domain name. To avoid an expired domain, you can set a yearly auto-renewal.

Some registrars offer domain name discounts on first-year purchases, but their renewal costs can be much higher. Keep in mind that if you pay $0.99 for a domain name as a promotion, it’s usually only for the first year, and your annual renewals will be much more expensive.

2.) WHOIS and Domain Privacy

ICANN is responsible for coordinating the assignment and maintenance of domain names. Each domain registrar is required to collect contact information for the website owner. WHOIS data is publicly accessible, and businesses can use it to contact you about potential partnerships.

Domain Privacy is an add-on that many domain registrars offer to keep your information private. It usually costs an additional $9.99, and it’s optional.

However, some registrars automatically add it to the cart, and you have to remove it manually if you don’t want to pay for it. Some registrars, such as DreamHost, provide free domain privacy with their domain.

whois directory privacy service

3.) Business Email Accounts (Email Domain)

When purchasing a domain name, you may see an add-on for email domain to set up a professional business email address. Most web hosting companies offer a free business email address, so you do not need to purchase this add-on.

If you want a more professional option, consider buying directly from G Suite or Microsoft Office365, so you’re not locked into a registrar.

email domain name extension

4.) Expert Tip: Secure Domain Discounts for Multiple Years

Some registrars, such as Domain.com, allow you to pre-pay for multiple years upfront. This is a great way to get an introductory discount offer for multiple years.

Since domain renewals are required annually, pre-paying for multiple years can be a significant saving and can protect you from future price increases.

These hidden fees and domain cost explanations are primarily for new domains that are available for registration. However, premium domains, or the ones that you buy from other people can come with additional costs. Let’s take a closer look at premium domain costs.

How much does a premium domain name cost?

Premium domain names are already registered domain names that are often shorter, more memorable, and highly brandable.

These aftermarket domains are usually registered by domain investors who intend to sell them later at a higher price for profit.

domain.com find a premium domain

The premium domain name cost varies widely and can range from a few hundred dollars to thousands of dollars, depending on factors such as the name’s uniqueness, length, and overall branding potential.

Some premium domains may even cost hundreds of thousands or millions of dollars. For instance, Insurance.com sold for $35.6 million, PrivateJet.com for $30.18 million, and Hotels.com for $11 million, among others.

You can find premium domain names for sale by private sellers on various websites.

6 ways to estimate the value of a premium domain name

  1. Domain length: Shorter domain names are generally more valuable, especially if they are easy to remember and spell.
  2. Domain extensions: Certain domain extensions such as .com, .net, and .org are more valuable than others because they are more established and recognized.
  3. Market demand: Research the market demand for the type of business or industry that the domain name relates to. The higher the demand, the more valuable the domain name.
  4. Brand potential: Determine the potential branding opportunities for the domain name, such as its ability to establish a unique identity, generate traffic, or increase brand recognition.
  5. Historical sales data: Research previous sales of similar domain names to get an idea of their market value.
  6. Online domain appraisal tools: There are various online domain appraisal tools available that can provide an estimated value for a domain name based on certain factors.
GoDaddy domain appraisal

How much does a domain name cost if it’s expired?

When a domain name expires, it typically goes through a process known as the “expiration cycle,” during which it goes through different stages, including a grace period, redemption period, and deletion period.

During this period, the original registrant may have the opportunity to renew the domain name, or it may become available for registration to the general public.

If a domain name becomes available for registration after the redemption period, it may be auctioned off by the registrar or sold on a marketplace.

Where to look for expired domain names

1.) FreshDrop

aftermarket domain names

FreshDrop is a domain name auction and marketplace platform that allows users to find and purchase expired or expiring domain names. The platform features a searchable database of over eight million domain names that have expired, are in the process of expiring, or are available for auction.

2.) Expired Domains

different domains on Expired Domains.net

ExpiredDomains.net is a popular online platform that provides a comprehensive database of expired, dropped, and deleted domains. The platform is designed to help businesses, marketers, and domain investors find valuable domain names that can be used to improve search engine rankings and establish a strong online presence.

Your domain is not listed for sale – what to do

If your dream domain is already taken and not listed for sale, there’s a chance you can still buy it. Many users register for their online business ideas, but they may never end up using them or abandon the idea altogether. You can directly contact the domain owner to make an offer if they’re not using it.

To find the contact information of the domain owner, you can use the Whois search or the contact form on their website if the preferred domain name has a website.

Keep in mind that sometimes people register for future ideas and may not want to sell them, or they may ask for a premium to part ways with their domain. It’s important to be respectful and realistic about the value of the domain name as you may be buying someone’s “dream idea” or a domain brokers property.

3 things to consider before buying a domain name

Before purchasing a website address, it is important to do your research to make sure that you make good decision.

1.) Determine your website’s purpose and target audience

This will help you choose a name that aligns with your goals. It is also crucial to research your competitors and analyze their website addresses to help you come up with a unique and memorable name.

2.) Legal consequences

Eventually, you need to consider using certain words or phrases in your website address. To avoid potential legal issues in the future, do a trademark search and check for copyright infringement.

3.) SEO

It is especially important to think about when choosing a website address. Using relevant keywords can improve your website’s visibility and increase traffic.

Overall, doing your homework before purchasing a website address can save you time, money, and potential legal issues in the future. By researching your website’s purpose, target audience, legal implications, and SEO, you can make an informed decision and choose a website address that aligns with your goals.

  1. Demand for Online Presence

As more businesses shift their focus to online channels, the demand for domain names that represent their brand or services is likely to increase, driving up the prices of premium domain names.

  1. Artificial Intelligence (AI) and Natural Language Processing (NLP)

With the increasing adoption of AI and NLP in various industries, domain names that are easy to pronounce and remember are likely to be in high demand.

  1. Geo-specific domain

Location-specific domains have become increasingly popular in recent years, with many businesses using them to target customers in specific regions. In 2023, demand for such domains could increase further, potentially driving up prices.

  1. Cryptocurrency

The growing adoption of cryptocurrency could lead to more businesses accepting digital currency for domain name purchases, which could affect the pricing of domain names.

what is cryptocurrency
  1. New domain extensions

The availability of extensions like .tech, .io, and .app has increased in recent years, providing businesses with more options for branding their online presence. The demand for these new extensions could increase, affecting their pricing.

  1. Cybersecurity and Domain Protection

As cyber threats become more prevalent, businesses are becoming more vigilant about protecting their online assets, including domain names. This could lead to increased demand for domain protection services and potentially impact prices.

  1. Domain Name Marketplace

The rise of domain marketplaces like GoDaddy, Sedo, and Afternic has made it easier for businesses and individuals to buy and sell domain names. The growth of these marketplaces could impact domain prices in 2023 as more people enter the domain trading market.

Why are domain names important?

A domain name is a critical component of an online presence for businesses and individuals. It provides a unique identity and digital address where people can find them online, which is crucial for establishing brand recognition and credibility.

A professional one can enhance the legitimacy and authority of a business or individual, demonstrating a commitment to establishing a professional image.

It can be used in marketing efforts, making it easy for people to find a business or individual online. If well-optimized can improve SEO, rankings and increase visibility online.

Finally, a custom name can be used for professional email addresses, which can help establish credibility and improve communication with customers and clients.

Overall, choosing the right domain name is crucial for businesses and individuals who want to establish a strong online presence and succeed in the digital marketplace.

Using a different subdomain or TLD

When it comes to setting up a website, you have the option to use a subdomain or a different top-level domain (TLD) if the one you want is already taken.

A subdomain is a part of a larger domain name, typically separated by a period. For example, blog.example.com would be a subdomain of example.com.

Using a subdomain can be a good option if you want to set up a separate section of your website for a specific purpose, such as a blog or an online store.

On the other hand, using a different TLD can be a good option if the .com version is already taken. For example, if example.com is taken, you could use example.net, example.org, or one of the many other TLDs available.

Keep in mind that using a different TLD may affect the credibility and search engine optimization (SEO) of your website, as .com is the most popular and recognized TLD.

Frequently Asked Questions

How do I permanently buy a domain name?

Technically, it’s impossible to buy one permanently though you’re able to lease it and then renew it once a certain time.
The registration period is one and a half years and the registrar will give you a renewal notice before expiration.

What is the cost of domain name per year?

Generally, the most popular TLDs such as .com, .org, and .net, can cost around $10 to $20 per year.
It’s worth noting that some registrars may offer discounted prices for the first year of registration, so the cost may increase in subsequent years.

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