Advantages of purchasing real estate in Bristol, Florida could include:

1. Affordable Housing: Bristol, Florida is a small village with a limited cost of living, including property. The cost of living is relatively low compared to other major cities in Florida.

2. Small town charm: Bristol offers a tight-knit and supportive community, with friendly residents and quiet streets.

3. Natural beauty: Florida is well known for its outdoor recreation, including Bristol, where you can find parks, lakes, and forests nearby.

Disadvantages of purchasing real estate in Bristol, Florida could include:

1. Limited job market: Being a small town, there are not many job opportunities available in Bristol, especially if you're looking for high-paying roles.

2. Limited retail options: Similarly the range of shops, restaurants and other amenities is likely to be limited, for those who prefer a greater variety.

3. Weather conditions: As with most of Florida, Bristol, lies in the tornado and hurricane "bay"; as a result, severe weather and heavy rainfall are common occurrences in the region.

These are just a few factors to consider when thinking about purchasing real estate in Bristol, Florida. It's always a good idea to do in-depth research on a location before making any real estate decisions.