Advantages of buying property in Slater, Iowa may vary depending on your personal preferences and goals but here are some general benefits of owning property in a village:

1. Lower cost: Generally, villages have lower housing prices compared to urban areas which might enable you to save money in the long run.

2. Less competition: Since villages are not densely populated as cities or densely developed towns, there is less competition in the housing market. Buyers typically have a larger pool of options to choose from and enjoy lower prices.

3. Calm and peaceful setting: Villages often provide a serene and tranquil atmosphere as they are situated away from the busy urban centers. In Slater, Iowa, you can enjoy the benefits of living in a rural area without being too far away from the city.

Disadvantages of buying a property in Slater, Iowa may include:

1. Limited amenities: You may not have access to some of the more advanced amenities and services that are available in urban areas.

2. Limited social activities: Small villages like Slater, Iowa, often have fewer social activities, which could result in feeling isolated or disconnected.

3. Lack of privacy: The homes in smaller villages may be placed closer together, resulting in less privacy than in a more remote location.

Also, keep in mind that property values may appreciate more slowly in villages than in urban areas. It is important to account for potential resale value when considering buying a property in Slater, Iowa.