The common terminology used when talking about "buying a domain name" is misleading. The term "register a domain name" is a little better. After you register a domain you do not actually own it like you would own something like a toaster you buy from a store. What you do have is the right to use it for a period of time. Instead of saying "buy" a domain name a more accurate term would be "rent" a domain name.

Domains by the year

Currently a.com domain name can be registered in one year increments. You can register a domain for one year or for a few years or up to ten years at a time. Typically the entire registration period will need to be paid up front. Often Domain Name Registrar's will give you a price break on the cost per year the longer the registration period.

Renewing a Domain Registration

At the end of any length domain registration term you will be offered the option of renewing the registration for another term. So if you register a domain name today for one year then, about a year from now, your registrar will contact you asking if you would like to renew the term. In this way even if you only register a name for a short amount of time you can renew as many times as you'd like. In some cases domain registration companies will offer an automatic renewal service that will repeatedly renew your domain for you at the end of every term.

How to Accidentally Lose a Domain Name

As you can see it's a pretty simple thing to keep a domain name for as long as you'd like by simply continuously renewing the registration. There are cases, however, when you lose a domain name unintentionally. Even the shortest one year registration period is pretty lengthy amount of time and a lot can happen. The number one largest issue people have is when they change the credit or debit card that they have on file with their registrar. If you are counting on an automatic renewal on a domain, and do not have a valid credit or debit card attached to your account, your registrar can not renew that domain. Now, they will do their best to contact you however if you've also changed your email address you might be in big trouble. If they can not get in touch with you then your domain name is at risk. Keep your account information current!

Take away

Registering a domain is a simple thing to do as is keeping it for as long as you'd like through repeated renewals. Just remember what looks like a great idea today might not be so hot in a year or two. Save a few bucks and start off with a sender registration period. You can always extend it anytime!

Source by William P. Kelly