There are several advantages and disadvantages to consider when buying property in the village of Clay City, Illinois.

Advantages:
- Lower prices: generally, rural properties in less populated areas like Clay City have lower prices than urban properties.
- Peaceful setting: If you're looking for a quieter, more peaceful living situation, you will find the rural outskirts of cities ideal for your needs.
- Sense of community: In small communities like Clay City, people generally know each other better which promotes a sense of community.
- Potential for property development: You can design and develop your property as per your requirements.

Disadvantages:
- Rural location: Rural properties are often located far from essential services like hospitals, schools, and shopping centers.
- Limited job opportunities: If you're not already working remotely or have a job in Clay City, finding work in rural areas can be difficult.
- Commute times: If you work in a nearby city, you'll likely have a longer commute time from Clay City.
- Lack of diversity: Rural towns like Clay City have less diversity in terms of cultural experiences, entertainment options, and other amenities.

Overall, it's important to weigh the advantages and disadvantages of buying property in Clay City before making a decision that ultimately, boils down to your personal preferences and lifestyle goals.