The basic fee for brand new domain names can be worth below $20 annually. However, you may have to pay extra to ensure your site's privacy, site-building services, speed, and so on, through various add-ons.
Meanwhile, domain names sold in the aftermarket can be pricey due to the amount of traffic they can produce, particularly when they contain keywords critical to a business. Some people pre-register catchy domain names and resell them to businesses at a higher cost.
In the end, choosing to buy a premium domain name is worth the investment if it generates organic traffic on your website. Premium domain names contain words or phrases that many people search for on the web. They are short and easy to remember, and they have a strong domain history, which translates to a higher page ranking in search engines.