Ensure your blog name and domain are same: Before rushing to select a domain name make sure that your website name/title should be your domain name. It is quite obvious that many websites/blogs have the name of their blog as their domain name. It is really important that it must be same as it insures better remembrance of your blog. For eg: If your blog name is technology today and your domain is mywebsite.com . Many will have confusion with the domain name and title and they might visit technologytoday.com next time.
Select a unique domain name: Selecting a unique name is the most important for your blog. Selecting a unique domain gives it a unique identity. Also check that nobody has that domain name registered. Like if you selected a domain name gogo.com make sure that nobody has a similar domain name reserved earlier like gogo.net, gogo.org, gogo.info etc. Selecting a same domain name is a crime too.
Select a brand name rather than a generic name : A lot of people prefer generic names as their domain name. But generic names are not good as they are too costly. Consider a example if you have a blog on mobiles and have a domain mobile.com it would be good but taking price in mind I'll say it is not worth it as it has less influence on the visitors also. Selecting a brand name will help you to increase your brand value.
Use long or short names: A lot of us have confusion whether the domain name should be short or long? You can select a domain name upto 67 characters. It truly depends on you But here is a good explanation by thesitewizard.com -whether domain names should be long or short :
Some argue that shorter domain names are easier to remember, easier to type and far less susceptible to mistakes: for example, "getit.com" is easier to remember and less prone to typos than "connecttomywebsiteandobtainit.com".
Others argue that a longer domain name is usually easier on the human memory - for example, "gaepw.com" is a sequence of unrelated letters that is difficult to remember and type correctly, whereas if we expand it to its long form, "GetAnEconomicallyPricedWebsite.com", we are more likely to remember the domain name.
Some of these arguments are actually academic. It's increasingly difficult to get short meaningful domain names. I have not checked, but I'm fairly certain that names like "getit.com" and "good.com" have long been sold. If you manage to get a short domain name though, the key is to make sure it's a meaningful combination of characters and not the obscure "gaepw.com" in my contrived example above.
Long domain names that have your site keywords in them also have an advantage in that they fare better in a number of search engines. The latter give preference to keywords that are also found in your domain names. So, for example, if you have a site on free C++ compilers with a domain name like freecpluspluscompilers.com, it might fare better in a search for "free C++ compilers" than the corresponding page on my other website, thefreecountry.com.
Use hyphenated names or not:
Using a hyphenated domain name has two advantages. First it is easy to get and cheap. Second search engines can distinguish your keywords in domain better. But using it will not be human friendly as many often forget to use hyphens while typing the domain names. So use hyphens or not? Personally I would suggest not to use hyphens but you can use if you want search engines to better understand your domain keywords.
.COM , .ORG, .NET etc which one to use???
I would recommend to use .com as it is very common and the best one. But it depends on the site category. If it is a website of a organization use .ORG as it defines your site type and so on every Domain suffix has its own meaning. Check which category it falls and select the one for you. If you are confused simply just opt for a .COM domain it is the best one.
I am sure that now you are ready to select your domain name.
Still Have any queries let me know through the comments section..