Good:
1. New London is located near the Mississippi River, offering plenty of opportunities for outdoor recreation.
2. The city has a variety of restaurants and shops to explore, giving residents plenty of options for entertainment and dining.
3. The local school system is highly rated and provides excellent educational opportunities for children.

Bad:
New London is a small town, so there are limited job and career opportunities available for residents.

Here are a few potential benefits of purchasing real estate in New London, Iowa:

1. Affordability: Compared to larger cities, the cost of living, including real estate, tends to be lower in smaller towns like New London. This could mean that you will be able to purchase a larger property or a better location for the same amount of money as you would in a bigger city.

2. Quiet Living: Living in a smaller town means that you'll be able to enjoy a slower pace of life, with lower levels of noise and traffic than in a large metropolis.

3. Close-Knit Community: Residents of small towns tend to have closer relationships with their neighbors and participate in more community activities. In New London, you may find a strong sense of community and pride in local traditions and events.

4. Proximity to Nature: Small towns like New London are often located near natural attractions, such as lakes, parks, and hiking trails. This can mean more opportunities for outdoor activities and fresh air.

5. Potential for Investment Opportunity: If New London's housing market is currently undervalued or on the rise, purchasing a property now could be an investment opportunity.