Course / Lesson 5 of 8 ยท 3 min read
Buying, registrars and holding costs
The price you pay to buy a name is only the start. The yearly renewal is the cost that decides if you make money.
Pick a registrar
A registrar is the company that keeps your name on record. Popular choices include Namecheap, Porkbun, Dynadot and GoDaddy. Compare three things:
- The renewal price, not the first-year price. Many registrars sell the first year cheap and charge more after.
- Free privacy for the owner details on the public record.
- Two-factor sign-in. Turn it on. A stolen account means stolen names.
The 60-day lock
Under ICANN's transfer policy, a newly registered or newly transferred name usually cannot move to another registrar for 60 days. Plan for this if you sell a name you just bought.
Renewals add up
A .com renewal at most registrars costs roughly the price of a lunch each year, and wholesale prices
have gone up over time. Check your registrar's current price before you buy, and add it to your sheet (Lesson 8).
Keep one spreadsheet with every name, what you paid, the renewal date, the renewal price and your asking price. You will need it for renewals, for pricing and at tax time.
Auto-renew on purpose
Turn auto-renew on for names you will keep, and make sure the card or account balance behind it has money. Turn it off for names you plan to drop, so you make that choice on purpose.