3. Domain Name Renewal
Most domains are renewed yearly for the same amount you paid for your website domain name originally. This fee is charged so you can keep usage rights of that domain name.
Your domain name seller can tell you the price of your renewal upfront. Some costs may increase slightly over time, like taxes, but those changes should be recorded when you renew.
Some website domain registrars will allow you to purchase renewals for more than one year. It's a win-win scenario if you can fit it into your budget because you lock in the price for multiple years, and the seller gets more money than a single year renewal.
Knowing your renewal fee before you buy a domain is definitely worth taking the time to investigate. If the domain registrar is reputable, they will present you with fee information openly. If they don't have it readily available, then you may be dealing with a fraudulent seller, which you should look into closely.
4. Privacy Protection for Your Domain
Even if you get a free domain name, there are other domain name costs to consider when you get one. One of these costs is privacy protection for your domain. Privacy protection has grown more important as hackers and ransomware have increased in number. Keeping records secure and private is one of the most important ways you serve your customers and visitors.
Adding privacy protection is a must in many countries in order to follow government laws and regulations. For instance, any website that does business in Europe must comply with the General Data Protection Regulation or GDPR. If you don't comply, it can be a costly error.
Check with your domain provider to see if they can add the SSL certificate to your domain. If not, it may be an indication that they aren’t a legitimate registrar.
5. If You Need to Purchase a Domain That’s Already Owned
Buying a domain name that's already owned can complicate the process a bit. The current owner sets the cost of the domain name in this case. If it’s a highly competitive or desirable domain name, it’s likely they will set the cost higher than the average domain name. However, in some cases, you can try to negotiate the cost down if you feel it’s priced unfairly.
If the price is too high for your budget, it's time to take a second look at a new domain name.
Since a new domain name is usually a fraction of the cost, buying an existing domain name may not be the best decision unless it’s your brand name and you want ownership of that asset.
6. If You Need to Buy More Than One Domain Name
How much does a domain name cost per year when you buy more than one domain? If your purchases are all new domains, you’ll need to look at the cost for each specific one and add them all together. However, some domain name sellers may give you a discount for buying more than one domain name.
If you do get a discount, make sure that the cost includes all of the services you want for each of the domains.
Another consideration is whether you really need to buy other domain names. Why do you need more than one? Is it so the others can all redirect to your main website? Are you trying to prevent competitors or other businesses from purchasing them? Or do you need them to do business in different countries?
Before you decide to buy more than one domain name, research whether the added value is worth the cost.
7. If You Need to Transfer Your Domain
You may decide you need a domain name transfer—meaning you’re moving that domain name from one registrar to another. You might transfer a domain for better customer service from a host or even to lower your costs of maintaining your domain name.
Usually, there is a fee to transfer your domain which is an added cost in the long run. However, you could save monthly—or annually—on the cost of your action domain name and hosting going forward.
Before transferring your domain name, consider whether it’s worth the additional fee. While it’s usually small, it may be impactful if you’re on a tight business budget.