Here are some pros and cons of purchasing real estate in the city of Godfrey, Illinois:

Pros:
- Low cost of living compared to other parts of the country. Housing prices, property taxes, and other expenses are generally affordable in Godfrey.
- It is a small community, so residents enjoy the charm of small town living with easy access to big city amenities in nearby cities like St. Louis.
- The city has a good school system, so it's a great place to raise a family.
- The city is surrounded by beautiful parks and natural areas, which provide plenty of recreational opportunities.
- The city has a relatively low crime rate, making it a safe place to live.

Cons:
- Godfrey, being a small town, may have limited employment opportunities compared to larger cities, which means residents might have to work in nearby cities, like Alton or St. Louis or work remotely.
- Depending on where you settle, it may be a significant commute to work or to local amenities like groceries and healthcare facilities.
- Severe weather like tornadoes, thunderstorms or flooding may cause property damage.
- Property values may not increase as fast as they would in a more larger and booming city.

Keep in mind that these are general pros and cons, and your decision to purchase real estate in Godfrey should be based on your own personal needs and priorities.