It's best to do more in-depth research or seek advice from a licensed real estate professional.

Advantages:
- Plano is a small and peaceful village, which can be an ideal place for individuals who want to live away from the hustle and bustle of a big city.
- The cost of living in Plano is relatively low compared to other areas in the state, which can be attractive for those on a budget.
- The village is located near some natural attractions, such as Barren River Lake and Mammoth Cave National Park, creating recreational opportunities.
- Plano has a small-town community feel, which may appeal to individuals who enjoy a tight-knit community.

Disadvantages:
- Plano may not have as many employment opportunities as larger cities, making it difficult to find work in certain fields.
- The town's population may be very limited, which can create challenges for socializing and meeting new people.
- There may not be as many amenities available in Plano compared to larger urban areas, so individuals who enjoy a lot of entertainment and dining options may find it limited.
- The economy of the town is dependent on agricultural production and small businesses, which could be vulnerable to external factors such as weather changes and low demand.

Keep in mind that these are general advantages and disadvantages, and it's important to research the specific area you are considering to ensure it meets your needs and preferences.