I would like to discuss 5 main issues with you, that you have possibly questioned before buying your 1st domain name.

1. What is a domain name?
2. Things to bear in mind when considering one.
3. Where do I purchase one from?
4. Are there any hidden expenses?
6. How much will one cost me?

1. What is a domain name?
A domain name is a part of a website address, usually the middle section.  The website address will tend to start with www. then your domain name will follow straight after and without any gaps.

This is finished with various confusing strange letters like “.com” or “.co.uk” or even “.org” and many others, but not to confuse you, we will just use one of them for explaining purposes.

We shall use “.com” and if our domain name was “domain name buying” for example, we would end up with www. followed by “domain name buying” and ending in “.com.”
Please do not get your domain name confused with your website address.

2. Things to bear in mind when deciding a domain name.
Some people get really stressed out, when deciding upon which domain name to choose.  As long as you follow a couple of basic guide lines, this task should be enjoyable and exciting.  Pick a name that is easy to remember.

Firstly, if we refer back to our imaginary domain name from the previous chapter above, we will be able to remember “domain name buying” a lot easier, than say “your web domain name registration created for you”

Now that was a bit of a mouthful wasn’t it?  Now you might find that an easier way to remember it, is by going over it again and again and again and for yourself, that might work ok.

But when you verbally pass this on to someone, what are the chances of them finding your website… very slim.  Have you ever played Chinese wispers and that’s without the www. to start with and the “.com” to finish with.

So keep it simple, don’t try and make things difficult.  Remember you want your internet business expierience to be an enjoyable one!

Secondly, If possible, try and have the domain name related to the product that you are advertising.  If we still use our good old friend “domain name buying” then it needs to revolve around that subject matter.

It’s no good using this domain name for house buying, as misleading your customers is a sure way of never seeing them again.  Remember, trust is so hard to gain yet… so easy to lose.

3. Where do I purchase a domain name from?
These are purchased from A registrar.  Start by going to Google and typing in the search bar… “start a domain name search.” You will now be spoilt for choice and faced with countless registrars.

Click on one of them and once it opens up follow the instructions.  They are free to join, (but they will try to raid your pockets in other ways as you will find out in the next chapter).

Enter your preferred domain name to see if it is available.  You will possibly need to adjust it slightly until you find one that you are happy with.  Make double sure you always check domain names have been spelt correctly, as there is no going back once you have paid for it.

So finding a cheap web domain is pointless if unrelated to your product.  These website domains that you are going to pick, are going to play a major part in your business, so take your time and enjoy the journey… you can now proceed to the check out and pay for your purchase.

4. Are there any hidden expenses?
Whilst you are making your way through the buying process within the registrar site, you will be faced with many, what we call up-sales.

These are tempting offers that they dangle in front of your eyes, so that they can put loads of add on features to your bill, (I did mention raiding your pockets, remember).

Now these do stand out like a sore thumb and trust me, you won’t miss them.  But it is up to you to resist the temptation, of leaving their site with many times the value, of that what you intended to buy when entering.

Once again, trust me when I say, they are really good at persuading you.  If you can picture being on a ghost train with all the crawlies hanging before you, then you’ve a pretty good idea of what I am trying to convey to you.

Now before you can use your domain name, you will need hosting and I will cover this in another topic.

But just so you know, FREE domain name hosting is available if you search around, but an up-sale will be thrown at you when on the ghost train.

Now like I say, you will need it, but as free domain name hosting can be found, why pay for something if you can get it for nothing.

5. How much will a domain name cost?
The good news, is that signing up for a domain name is FREE.  The bad news is that your domain name itself will cost you about $10 a year.  Also if you end up paying for a domain web host, this will cost you about $10 a month.

Although you will be sent a reminder to re-new your yearly fee, what I suggest you do, is pay for 2 years when signing up.  A payment is usually required via paypal or credit card, so make sure you have either available.

As every transaction that involves the transfer of an expired web domain is unique and special, it is quite difficult and strenuous to provide a list of advisories and precautions that can help novice expired domain name investors. Here are some common pointers and precautions that provide an air of safety and security while dealing with expired web domain.

Consider the real value of the expired web domain: Let us say that you have an expired domain that is more than five years old and you have not been able to sell it at a higher price. Now, if you get an offer for that particular expired web domain, ensure that you are not bargaining too much with the prospective buyer. Before you want to reject the offer, just sit down and think about the following aspects:

a)What is the life of that expired wed domain and since how many days have you been holding that domain?

b)How many offers did people make in the previous months?

c)What was the highest offer?

d)What is the level of frequency at which you receive your offer?

Note: If you own an expired web domain of four or more years old, you would better sell it off soon for a decent price. This will result in a fair deal for both you and your prospective buyer. Never be too greedy to dispose the domain for an unrealistic price.

Uncertainty of receiving consistent offers: Expired web domain business is a quiet and discrete event! An offer suggested by one buyer is entirely different from an offer made by other buyers. The market conditions always vary and change overnight, and the market condition of the day is entirely different from the one seen about a year back. Set a price for your expired web domain name and dispose it as soon as possible.

Selling expired web domain is a marketing activity: There is a misconception among domain name investors that people come flocking together to buy expired web domain names! It is not true! Selling expired domain is a marketing activity and you will need to develop the skills of selling your expired domain names in the ever competing market. You may wish to put a notice board saying that the domain name is for sale and interested parties can contact you, in case they are keen in buying the domain.

Providing contact details to prospective buyers: The most common mistake that investors commit is avoiding entering their contact details on the “Whois” database. Ensure that you enter your contact detail on the database, so that prospective buyers can contact you and buy the domain at a good price.

Every domain has its own price: Another mistake that people often commit is to pay a higher price for a particular expired web domain. Many investors assume that a particular domain name will have a great prospect of selling at a very higher price. But, this may not be always true! Ensure that you are paying enough attention, while assessing the real value of the expired domain; never ever, overpay for your expired domain.

Finally, trading in expired wed domain is a delicate act and a thoughtful exercise. Make sure that you learn about pitfalls of buying and selling expire domain names, so that you will not get trapped in the magical circle of expired web domains.