I can provide you with some general pros and cons about buying property anywhere, but specific pros and cons about Altoona, Alabama may require further research. Nonetheless, here are some general pros and cons:

Pros:
- Owning property can be a good investment, as it can appreciate in value over time.
- Purchasing a property can provide a sense of stability and security for homeowners as they have control over their living space.
- Real estate can serve as a source of passive income if the property is rented out.
- Homeownership can provide various tax benefits, such as potential mortgage interest deductions

Cons:
- Real estate can be a significant financial commitment and may require a substantial amount of money upfront.
- Property values can fluctuate based on market conditions, and there is always a risk that a property may decrease in value.
- Homeownership comes with added responsibilities, such as ongoing maintenance and repairs.
- Purchasing a property may limit your flexibility to move or relocate for job opportunities or other reasons.

It is also important to note that specific pros and cons of buying property in Altoona, Alabama may depend on factors such as the current real estate market, local economic conditions, and the neighborhood where the property is located. It's recommended to conduct thorough research before making any real estate decisions.