IT is full of misleading terms, and one of them is the idea of buying or ‘owning a domain name. The fact is you don’t own it – you rent it.
When you ‘buy’ a domain name you only buy the right to use it for the registration period, which can be anything up to ten years.
But if you stop paying for it, you lose your domain name, although there’s normally a grace period where no-one else can register it.
So why pay renewal fees?
It’s much more complex than buying a name. That name has to be supported by IT infrastructure that has to be kept running. This article sums it all up rather well: Why aren’t domains free?
When we ‘buy’ a domain name, we pay a registrar to register it on your behalf, usually for two years at a time.
We have our admin costs, too, in keeping track of domain names and ensuring they remain registered.
And these costs make up your domain renewal fees.
If you wish, you can save on these costs by extending your domain name registration with us for up to ten years. Find out why you might want to do that.