The two nice aspects of home ownership in Lebanon, Kentucky are the affordability and the abundance of outdoor activities. Home prices are very affordable in Lebanon, making it a great place for first-time home buyers. In addition, there is plenty to do outdoors as the city is surrounded by beautiful parks and nature trails. The bad thing about home ownership in Lebanon is that the city does not have a wide variety of shops, restaurants, and entertainment venues. This can make it difficult for home owners to find what they need without having to travel to nearby cities.

Here are some pros and cons of purchasing real estate in the town of Lebanon, Kentucky:

Pros:
- Lebanon is a small town with a tight-knit community, which may be appealing to some people looking for a close community
- The town has a low crime rate compared to national averages, which may make it a safer place to live
- It is located in close proximity to larger cities such as Louisville and Lexington, which can offer more job opportunities and entertainment options
- The cost of living in Lebanon is generally lower than the national average, which can make it an affordable place to live
- The town has a historic downtown area with unique shops, restaurants, and cultural events

Cons:
- The job market may be limited in Lebanon, which could make it difficult to find employment opportunities
- The town may not have as much diversity as larger cities, which may not be appealing to everyone
- The population of Lebanon has been declining in recent years, which could impact future growth and development
- The town may not have as many amenities or conveniences as larger cities, which could be inconvenient for some people
- Natural disasters such as tornadoes could be a potential risk in this region.

It is important to weigh these factors against your personal preferences and goals before making a decision about purchasing real estate in Lebanon, Kentucky.