When renewing vows, where is an appropriate place to have the reception? At a restaurant or banquet hall?

I am 34 yrs old and my fiance and I are planning to get married this September. We don't have a lot of money, so we are going to a chapel for the ceremony and we will go to a nice restaurant afterwards with immediate family and friends. My plan is to renew our vows next year on our one year anniversary and invite all my family and friends. (I have a large family and can't afford to invite everyone this year). I was wondering if there is "etiquette" for the reception. Can I decorate the hall as if it were the first wedding or would that be too tacky? Do we give out favors and/or gifts after the renewal dinner/party? Do you wear the same wedding dress? Is one year too early? (I've heard of most people renewing after 5, 10 or 25 etc, but we are doing it because of financial reasons). If anyone has done this, I would appreciate any advice. Thanks.