Here are some potential pros and cons to consider for home ownership in the village of Cottonwood, California:

Pros:

1. Natural beauty: Cottonwood is situated in a scenic area of northern California, with access to mountains and forests.

2. Rural charm: Cottonwood is a small, unincorporated community of around 3000 people, which can be appealing to those who prefer a slower pace of life.

3. Affordability: Housing in Cottonwood generally seems to be more affordable than in many parts of California, although prices can vary depending on location and other factors.

4. Investment potential: If Cottonwood continues to grow and develop, property values could increase over time, providing a potential return on investment.

Cons:

1. Isolation: Cottonwood is fairly remote, which could be a con for those who require convenient access to urban amenities.

2. Limited job opportunities: As a small community, Cottonwood may not offer many job opportunities outside of certain sectors (e.g. agriculture).

3. Environmental hazards: As with many parts of California, Cottonwood is susceptible to wildfires, which can pose a threat to homeowners.

4. Limited property choices: Due to its small size, there may be a limited selection of available properties to choose from in Cottonwood.

It's important to do further research and speak with a local expert before making any decisions about purchasing property.