Advantages of home ownership in the village of Griggsville, Illinois include:

1. Cost of living: Griggsville has a lower cost of living than the state average, which makes homeownership more affordable.

2. Rural charm: Griggsville is a small, rural community with plenty of scenic views, peaceful surroundings and serene lifestyle.

3. Investment: Homeownership can be a smart financial investment over time, as home values tend to increase.

4. Community: Griggsville is a tight-knit community, and owning a home can help you establish roots and become more engaged in community events and activities.

Disadvantages of home ownersship in Griggsville, Illinois include:

1. Limited job opportunities: Griggsville is a small town with limited job opportunities, meaning that residents may need to commute to find work.

2. Limited amenities and services: Griggsville does not have an abundance of amenities or services such as healthcare facilities, entertainment venues, and shopping plazas.

3. Maintenance costs: Homeownership comes with maintenance costs and responsibilities, which can be higher if the home is older and requires more upkeep.

4. Risk of natural disasters: Griggsville is located in a region of the country that is prone to natural disasters such as tornadoes and floods, which can pose a risk to homeowners.