Why do you need to renew the license ?

Renewing your activation key grants you access to updates in your WordPress dashboard, and product support for another year, including all updates for bug fixes and new feature introductions.  Not updating your theme with the latest version is the number one cause of blank pages or warning compatibility bugs with WordPress.

Each our product's licenses are available for a variable time period, depending on the package the client purchased.

FameClub  has its license available for 12 months, during which the user will receive updates and support. On the other hand,  FameClub Lifetime with lifetime updates and support.

After 1 year the license will be more expensive or cheaper ?

Usually, we do offer a discount for the renewal, so in most cases the renewal should be cheaper.

What happens when my license becomes invalid and i don't want to renew right away?

You can renew your license when you want and whenever you decide you will need support and updates, such as new features, security issues, bug fixes. 

Note: The product will work for  lifetime and you have full rights to use it as it is (GPL licensed), the only reason to renew is if you want updates and support when the license becomes invalid (You don't need to renew anythings on Lifetime Membership plan).