Advantages of owning a home in Lake Park, Florida may include:

1. Increasing Property Value: Lake Park is known for its beautiful beaches and attractive location, so there is a good chance that property values may appreciate over time.

2. Tax Benefits: Homeowners in Lake Park may be able to take advantage of certain tax benefits, such as tax deductions for mortgage interest and property taxes.

3. Control over Property: Owning a home gives you the ability to make changes and improvements to your property that you may not be able to do if you were renting.

4. Stability: Homeownership can provide a greater sense of stability and security because you are in control of where you live.

Disadvantages of owning a home in Lake Park, Florida may include:

1. Maintenance Costs: Homeowners in Lake Park may be responsible for maintaining their property, which can be expensive and time-consuming.

2. Property Taxes: Property taxes in Palm Beach County can be relatively high compared to other cities in Florida.

3. Risk: There is always a risk of natural disasters like hurricanes, which can be costly and may require homeowners to have insurance.

4. Limited Mobility: Owning a home can make it more challenging to move to a new location, especially if the housing market is in a downswing.