Advantages of purchasing real estate in Fairmont, Minnesota:

1. Affordability: The cost of living in Fairmont is relatively lower compared to other parts of Minnesota, making houses relatively more affordable.
2. Ample Job opportunities: There are plenty of job opportunities due to several industries operating in the city, such as agriculture, healthcare, and manufacturing.
3. Education: Fairmont boasts good schools, including numerous K-12 schools and a community college.
4. Recreational facilities: There are several parks and lakes in the area, offering plenty of opportunities for outdoor activities such as fishing, boating, and hiking.

Disadvantages of purchasing real estate in Fairmont, Minnesota:

1. Harsh winters: Winters in the city can be quite severe, with below-freezing temperatures and heavy snowfall.
2. Limited amenities: Fairmont is a small town, and there are limited amenities compared to larger cities.
3. Out of the way location: Fairmont is located far from cities like Minneapolis and Saint Paul, which can be a disadvantage if you are used to living in more populous areas.
4. Limited diversity: The population of Fairmont is primarily white, which may be a disadvantage to those seeking a more diverse community.