Advantages and disadvantages of purchasing real estate in the village of Newman, Illinois can depend on various factors such as the specific location, property type, market conditions, and personal preferences. However, here are some general advantages and disadvantages to consider:

Advantages:
- Lower cost of living compared to urban areas
- Usually quieter and less crowded environment
- Possibility of larger lots and more outdoor space
- Potentially lower property taxes and other expenses compared to urban areas
- Possible sense of community and close-knit neighborhood bonds.

Disadvantages:
- Higher commuting time and costs if you work in urban areas
- Limited access to amenities and services compared to urban areas
- Property values may not appreciate as quickly in rural areas
- Reduced job opportunities and lower salaries in some areas
- Limited entertainment and cultural options compared to urban areas.

Ultimately, it's important to carefully consider your personal circumstances and preferences before buying real estate anywhere. Additionally, consulting with a local real estate agent or other expert can help provide more detailed insights into the specific area you're considering.