Advantages of purchasing real estate in the village of Newport, Delaware are:

1) Affordability: Housing in Newport is notably more affordable than in some of its neighboring cities like Wilmington and Newark, making it an attractive option for homebuyers.

2) Commute: Newport is a great place to live if you work in Wilmington or even Philadelphia since it is located close to both.

3) Small-town feel: The village of Newport has a small-town, close-knit feel with a low crime rate and friendly neighbors.

However, there are also some potential disadvantages:

1) Limited amenities: Newport is a relatively small town, which means that there may not be all the amenities you would typically find in larger cities or more suburban areas.

2) Limited job market: While Newport is well-situated for commuting to Wilmington or Philadelphia, there may be limited job opportunities within the town itself.

3) Limited resale value: Purchasing real estate in Newport may not result in the same appreciation as in other more affluent and growing areas, which could be a disadvantage if you're looking to make a long-term investment.