When you consider creating a website, your budget will be a primary concern - especially during these uncertain economic times. You will likely look for ways to avoid unnecessary monthly fees. Yet when looking for cost-cutting opportunities, it's important not to underestimate the importance of owning your domain name.

Many website owners wonder why they should buy a domain name when they can use a web address (typically a subdomain) provided by a free web hosting provider. After all, if you can have a domain name without an additional monthly fee, doesn't that qualify as an unnecessary expense? You may be surprised to learn that it's quite the opposite - your decision to buy a domain name can have a significant impact on the success of your online business.

Still not convinced? Consider these?five reasons you should buy a domain for your website:

#1: Flexibility

When you use a free subdomain as the web address for your business, you will not have true ownership. Your hosting company will control the domain, which gives them considerable control over the fate of your online business. A problem frequently encountered by those using a free subdomain: When you decide to buy a domain name, you will have to choose a different web address - meaning that you will essentially lose the traffic and page rank you worked so hard to build with your subdomain.

#2. Stability

Every web site administrator has a unique set of rules and requirements that you must obey. Should your website violate any of the terms of your agreement, they have the right to automatically shut your website down. Resolving the issue could take time - if that resolution can even be accomplished.

#3. Search Engine Optimization

The major search engines tend to favor top-level domains (which you will get when you buy a domain name) over subdomains, for a variety of reasons. For example, subdomains are often suspected to be a source of spam. Also, search engines favor domain names that have longer registration terms - a sign of stability that bodes well for your website.

#4. Branding

Trying to "make a name" for your business in the competitive online marketplace is a challenge that only becomes more daunting if you don't buy a domain name to build your online identity. ?By registering a domain name, you gain a powerful marketing tool that can help you establish your brand and enhance your credibility.

#5. Revenue

Advertising dollars can be a very profitable revenue channel for your website. If you're using a subdomain, however, advertisers will be less likely to use your website - and your web hosting company (if they provided the free subdomain) will reap the financial rewards.

Of all the expenses involved with creating a website, you should not neglect to buy a domain name. It's a small yet significant step towards online success.