Yes That's Right Way to saw your site online and proper site sharing t oyou. i also use it. and it's very easy and simply way to do it.
If I'm not mistaken, there are a few factors that tie into the amount you will pay for a domain name. Looked up an exact domain name I'm interested in and it's nearly $1300/year (according to two different web hosting sites including GoDaddy). According to the (small) amount of research I've done, the popularity of the name, how searchable it is, what ties it has into the "professional" industry can all be factors which determine the cost of your domain. I'd venture to say that a majority of your names will likely fall into GoDaddy's "$11.99/yr" plan, but you may want to do a little digging first just to be sure.