Advantages of purchasing real estate in Lisbon, Connecticut could include:

1. Accessible Location: Lisbon is located between the two important cities of Connecticut, New London and Norwich. This makes it easy to access major transportation routes, recreational activities, shops, and restaurants.

2. Rural Charm: Lisbon offers a unique blend of scenic farmland, historic homes, and a rural way of life. It has all the charm and character of small-town living.

3. Affordable Housing: Compared to some of the neighboring areas, Lisbon's housing is affordable. This makes it an attractive option for first-time homebuyers or people looking for a manageable mortgage.

4. Community Spirit: Lisbon has a close-knit community that is dedicated to preserving the town's unique character. Many residents attend events and festivals throughout the year, and the residents are generally welcoming and friendly.

Disadvantages of purchasing real estate in Lisbon, Connecticut could include:

1. Limited Job Opportunities: Lisbon is mostly a residential area, and as such, there are limited job opportunities locally. Many residents commute to nearby cities to work.

2. Extreme Weather Conditions: Connecticut can experience extreme weather conditions such as hurricanes and snowstorms. This may cause inconvenience or damages to properties.

3. Limited Public Transportation: While there are transportation options available, such as buses and trains, the public transportation system in Lisbon is not as extensive as some neighboring areas.

4. Property Taxes: The property taxes in Lisbon are higher than in some of the neighboring areas, which could impact the overall cost of owning real estate in the town.