I feel buying a domain for a long period is not a very wise decision. You need to cough up a huge amount for that purpose and if after a year or two you start getting tired of managing that particular website, its a loss. Unless you have already created a brand name out of it, i feel long term buying is just not worth.
Originally Posted by Snak3
I agree. Its not as though you can forget to renew the domain as long as your contact details are up to date as your domain provider will email you to let you know its expring (unless they auto renew it) and then Nominet (.uk domains) will email you aswell to tell you the domain has expired.