Some advantages of purchasing real estate in the village of Roanoke, Indiana include:

1. Lower property prices: The cost of housing in Roanoke is generally lower than in bigger cities or metropolitan areas.

2. Peaceful living: Roanoke is a small and quiet village that offers a quieter and more relaxed lifestyle, away from the hustle and bustle of a big city.

3. Scenic location: Roanoke is located in a scenic area surrounded by rolling hills and greenery. This makes it an ideal location for lovers of nature.

On the other hand, some disadvantages of purchasing real estate in Roanoke may include:

1. Limited job opportunities: Roanoke is a small village that may not offer as many job opportunities as larger cities.

2. Limited amenities: The village of Roanoke may not have as many amenities such as upscale restaurants, shopping or entertainment options as larger areas.

3. Lower resale value: Generally, homes in smaller areas like Roanoke may have lower resale value compared to those located in bigger cities.

It's important to note that the advantages and disadvantages of purchasing real estate in Roanoke, Indiana may vary depending on individual preferences and circumstances. It's always a good idea to do further research and consult with a real estate agent or financial advisor before making a decision.