Here are some pros and cons of purchasing real estate in Fayette, Iowa:

Pros:
- Affordable housing: The cost of living in Fayette is lower than the national average, making it an ideal location for those seeking affordable housing options.
- Good education system: The town is home to Upper Iowa University, a private university that offers a variety of undergraduate and graduate programs.
- Outdoor recreational activities: Fayette boasts of several parks, bike and walking trails and scenic outdoor recreational activities making it a great place for outdoor enthusiasts.
- Friendly people: Residents of Fayette are friendly and welcoming.

Cons:
- Limited job opportunities: The town has a small population, and as such, there may be limited job opportunities in certain fields.
- Harsh weather conditions: Winters in Fayett can be extremely cold with heavy snowfall, making it difficult to commute or drive.
- Limited entertainment options: There may be limited options for entertainment in Fayette, as it is a small town with fewer options for dining, shopping, and nightlife.
- Potential natural disasters: Fayette is located in an area that is prone to tornados, which can cause significant property damage.

Overall, whether or not Fayette, Iowa is a good place to make a real estate investment depends on your personal needs and priorities. It's important to weigh the pros and cons and make an informed decision that suits your lifestyle and investment goals.