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What’s important when deciding to purchase a domain name variant is to consider whether a business with a similar name might buy a variant and also if it would be possible that having more than one business with similar domains may cause confusion in consumers.
Strategically buying domain names to prevent customer confusion and to protect earnings and site traffic is a sound approach to purchasing domains.
If you want to generate brand value, but do not want to risk the chance of a Google penalty, you can use a domain that has an association. You do not gain any immediate benefits from Google, but it will certainly look good from a user’s perspective and gaining a good click-through rate (CTR) will notably benefit your rankings.