Because full scale development can take a considerable amount of your time, I would advise that you choose a domain name that is in a field of interest for you. This is especially true if you have a full time job and become a developer on the side. If I didn’t enjoy the domain industry, I would have a difficult time writing this blog every day (frquently more than once a day).
When building a full website, it’s important that you have unique content that is updated as regularly as possible. Think about it for a second. When you visit your favorite websites, do they look like they’re updated regularly? I know I get annoyed when I visit some websites and the content is old – even if it’s just a day old (sometimes even a few hours old). Visitors to your developed sites probably feel the same way, and they expect to see updates.
If you want your site to be able to compete with other sites, you are going to need to spend time working on it. Before you start, I urge you to choose a topic of interest so you are less likely to get bored down the road. Although it might be more expensive to buy a great domain name, once you’ve put in many hours and days developing it, you will be happy you bought the better domain name.
Had I really known what I was getting in to at the time, I probably would have flipped TropicalBirds.com instead of developing it. Truthfully, birds aren’t that interesting to me. I enjoy learning about a variety of things, but I am not a true birder. It’s a struggle to get myself to build pages and add content to the site, but I am doing it because I know that will increase the value (as a result of traffic and revenue).
So take it from me, focus on developing on a domain name that is in a field of interest. You will be thanful for it down the road.