Advantages of home ownership in Cambridge, Maryland include:

1. Affordability: Compared to many other cities in Maryland, housing in Cambridge is relatively affordable.

2. Waterfront lifestyle: Cambridge is located on the Eastern Shore of Maryland, and boasts many waterfront homes and properties.

3. Historic charm: Cambridge has a long and rich history, and is home to many historic buildings and landmarks.

4. Proximity to larger cities: Cambridge is located about 75 miles from both Baltimore and Washington, D.C., making it an accessible location for commuters who work in those cities.

Disadvantages of home ownership in Cambridge, Maryland may include:

1. Limited job opportunities: Cambridge is a relatively small city, and job opportunities may be more limited compared to larger cities.

2. Seasonal tourism: While the tourism industry may bring some economic benefits to Cambridge, it may also lead to crowded streets and limited access to local attractions during peak tourist seasons.

3. Rural location: While some may see Cambridge's rural location as an advantage, others may find it inconvenient to be far away from larger urban centers and cultural amenities.

4. Threat of natural disasters: As a coastal city, Cambridge is at risk of occasional flooding and other weather-related natural disasters.