The village of Louise, Texas has a population of only a few hundred people and is a rural community. Here are some general pros and cons of homeownership in rural areas:

Pros:
- Generally, homes in rural areas tend to be less expensive than homes in urban areas.
- There is more space and privacy, and you will likely have a larger lot size.
- You can live a quieter lifestyle with less traffic noise and hustle and bustle.
- You may have access to outdoor activities like hiking, fishing, hunting, and more.
- Air and water quality may be better in rural areas.

Cons:
- Rural areas generally have fewer job opportunities, which could limit your ability to find work.
- Social opportunities may be more limited compared to living in a urban area.
- The distance to amenities like grocery stores, hospitals, and schools can be significant, meaning you may need to travel farther for everyday necessities.
- Depending on the location and weather, rural areas can be more affected by natural disasters like flooding or wildfires.

In terms of the village of Louise specifically, without knowing more about the local real estate market, it's difficult to say anything specific. However, if you are looking for a quieter lifestyle with lower costs of living, rural areas like Louise, Texas could be a good option for you.