Some advantages of purchasing real estate in Ashley, Indiana include:

1. Affordable property prices: The cost of living in Ashley, Indiana is generally lower when compared to other states, making it an attractive place to invest in real estate.

2. Scenic location: Ashley, Indiana is situated in a lovely, scenic location with rolling hills, forests, and waterways. This makes it an appealing place for people who enjoy the outdoors and a slower-paced lifestyle.

3. Growing population: The population of Ashley, Indiana has been increasing steadily over the past decade, which means that there is likely to be a continued demand for real estate in the area.

Some disadvantages of purchasing real estate in Ashley, Indiana include:

1. Limited job market: The job market in Ashley, Indiana may not be as robust as in larger cities, which could be a disadvantage to people who are looking to move there for work.

2. Rural location: Ashley, Indiana is located in a rural area which can be a disadvantage to people who prefer a more urban lifestyle with access to more amenities.

3. Harsh winters: The winters in Ashley, Indiana can be quite harsh, with heavy snowfall, cold temperatures, and icy conditions. This can be a disadvantage to people who are not used to such weather conditions.