• You can own and use your personal domain address www.somename.com.
• Your can utilize email addresses e.g. yourname@somename.com.
• Helps with brand recognition.
• Increases the level of visitor/customer confidence.
• Early registration avoids the domain being taken by someone else.
• Domains containing keywords you want to rank for can help search engine results.

Most people go for a .com domain because it's the most common and easiest to remember. However, the problem is that most of the good .com domains are already taken. In that case it's best to check if the domain you want is available with another extension, like .net or .org. This way you will get to keep the idea you have for your website.