There are several pros and cons to consider when buying property in Lafayette, Indiana.

Pros:
1. Growing Economy: Lafayette has a diverse economy, with a thriving manufacturing sector, healthcare, and education industries, which has led to job growth and a strong local economy.
2. Affordability: The cost of living in Lafayette is relatively low compared to other metropolitan areas in the United States.
3. Educational Opportunities: Lafayette is home to Purdue University, which is a renowned institution with a variety of undergraduate and graduate degree programs.
4. Cultural Offerings: There are many museums, galleries, theaters, and music venues in the city, which provide residents with a rich cultural experience.

Cons:
1. Weather: Winters in Lafayette can be very cold and snowy, which may not appeal to everyone.
2. Traffic: Lafayette is located at the intersection of several major highways, which can lead to congestion and traffic during peak hours.
3. Limited Public Transportation: There is limited public transportation in the city, which could be an issue for those who rely on it to commute or get around.
4. Property Taxes: Property taxes in Lafayette can be relatively high compared to other cities in Indiana.

Overall, Lafayette is a growing city with a strong economy and many educational and cultural offerings. However, it may not be the right fit for everyone due to its climate, traffic, limited public transportation, and higher property taxes.