Renewing domains multi-year vs. annually really comes down to trust, budget, and how serious you are about keeping the domain long-term.
If it's a core domain and you're certain you'll use it for years, locking in a multi-year renewal before prices go up further might save you money in the long run. It also cuts down on renewal reminders and the risk of forgetting to renew.
But if you're not 100% sure the project will last or you're concerned about the registrar hiking prices even more later, annual can give you more flexibility to switch registrars or let it go without being locked in.
Just keep in mind — some registrars raise prices aggressively after the initial term, especially on .coms, so check their future pricing before committing. And always keep your email updated — losing access is way worse than any price hike.