So we know what we are talking about: A premium domain name has usually been previously registered for quite a period of time. Some are in current use whereas others might have been acquired as an investment and/or previously utilised. Premium domain names are predominantly one or two-word, shorter '.com' domains. They cost more than other domains due to supply and demand and the fact that there are only so many available. They tend to attract much higher website visitor traffic, and communicate higher credibility and association with a more serious business. Nearly all high-traffic sites use premium domain names.
Websites and domain names are the new real estate and shop windows of our digital age. This is especially true of premium domain names.
A website domain name is an essential part of what helps signpost visitors to your site.
A website can be 'the prettiest thing you ever could see',  .  . even offer the best product or service, .  .  or provide the most useful information
But if nobody or few people actually see it, and can trust and remember its clear name and message, .  .  then what good is that to anyone?
And if you don't have complete confidence in the genuine message which you are communicating and sending out to people, and in how it is communicated, . . then why should anybody else?
If you are serious about having an effective Web presence then it is essential to have your own website (i.e. A site that you actually own). The first step in that journey is to purchase and own your own domain name.
A good and memorable domain name (preferably a premium domain name dot-com at launch) gives your project the best chance of not only being noticed, but also favoured and remembered by web users and search engines alike.   So before you immediately get enticed, or left using a .rip, .pizza or .wtf domain name that you might not even own, or leave it in the same 'eggbasket' as 'your website', please do carry out your basic research and choose carefully.
Then your site is far more likely to be taken seriously and listed preferentially in search engine results. In the 'world of web', there are not too many opportunities to engage and make a good first, and then lasting impression.
There are clearly numerous suppliers out there who will be 'all too happy' to supply you with domain names which are very unlikely to do your, or any website credit or justice.  We are not prepared to do that.   Every name submitted to us for sale that is listed on our site has been deemed by us as suitable to be called a 'Select Domain' name which in our view is then far more likely to be beneficial for your website. We reject many domain names that we consider to be substandard.
Yes a premium domain name is more expensive than other domain names (sometimes very much so), but as with many other things in life, if there is a limited supply and also many individuals or entities believe that they alone should be able to have the exclusive benefit of what is available, then it is obviously up to the present owner of the domain to either agree or disagree with any offers that are made.
It is frequently considered that your web hosting service (i.e. the computer server which 'houses' your website design code) is the stable base or 'home' for your website.
This in reality is a common fallacy. Yes your website design and coding (and ownership of) is certainly important, but A web host can be changed much more easily than your domain name. (that is, if you really do own your website design and domain name.)
In truth, it is actually the domain name which can be the stable associated root where your website really resides in people's minds, in links, and in search engine results. And it is that same domain name home reference that can stand like a rock as a controlled constant working for you over time as your site and project grows, and whatever web host and domain name registrar you may currently or later choose.
Your domain name IS your website project's home.
Another common question is to do with 'easy free website' services where you 'just click and drag' and then like magic have a site 'just like that'.  Well yes you can get a site quickly and cheaply up and running with these 'template' services. And yes, such outfits may even also sometimes employ a supermodel or other such promotion, which could possibly distract one's attention for a moment :-)
But the important thing is:  Is this really the best option overall for you?
Unfortunately many 'website builder/template services' do not allow you to have the free websites they commonly advertise, to be attached to your own domain name. Nor in that case to even use Google Analytics!  To use your own domain name or Analytics you would commonly need to purchase a premium plan from them in advance. These lower cost or free services can also frequently result in greatly inferior domain names, or even one of many diluted subdomains congregated together, but under a single main domain name. This results in inferior SEO treatment by search engines as well as a greater liklihood of being deemed to be spam when it comes to email communications.
So perhaps there is really no such thing as 'a free lunch'.
SelectDomain are neither a web host nor a registrar, and we consider it is always much better to own your own good domian name, make sure the name is registered to yourself as 'the official registrant', and also keep it held at a good registrar, but completely separate from your current web hosting provider.
Another common downside if using a 'free website creation' service can be that you are then commonly constrained to use their own propritary creation tool to design 'your' site. Hence if you then fall out with, want to move on from, or outgrow them, or prices escalate, you would need to start your website infrastructure again, but completely from scratch.
i.e. if you don't even then own what you might have thought was 'your own' website design which you spent precious time and effort creating and building up, then you often cannot export your website to another host, and you are basically 'locked in' forever unless you start all over again.
Website development companies can also register their clients' domain names 'owned' by their client. Free or Easy website bulding services can also do exactly that, maybe just because they can get away with it, or because the customer does not understand any better.
In such circumstances you can then end up owning neither 'your' website design code, nor 'your own' domain name. And the ownership of a domain can really be a problem. (It's 'the Mother' of all problems!)
Therefore whatever route you take with respect to the design of your website, it is always far more preferable to own your own domain name for your important project (preferably a premium domain name .com) in order that there is no significant possibilty of you loosing the domain name or being 'held over a barrel' concerning 'your very own website'.