Lake Orion, Michigan is a great place to own a home, with a number of pros and cons to consider.

Pros:
1. Excellent schools: Lake Orion has highly rated schools, which can be a big advantage for families with school-aged children.
2. Beautiful natural surroundings: The village of Lake Orion is situated in a beautiful natural environment, with access to lakes, parks, and outdoor recreational opportunities.
3. Community events: The village hosts a number of community events, including festivals, parades, and concerts, which can provide great opportunities to get involved and meet your neighbors.
4. Strong local economy: Oakland County, where Lake Orion is located, has a strong local economy, with a variety of job opportunities available in the area.

Cons:
1. High cost of living: Homeownership in Lake Orion comes at a cost, with a high cost of living compared to many other parts of Michigan.
2. Harsh winters: As with much of Michigan, Lake Orion can experience harsh winters, which can make living there difficult at times.
3. Limited public transportation: Public transportation options in the area are limited, so residents may need to rely on their cars to get around.
4. Traffic congestion: During peak times, traffic in and around Lake Orion can be congested, which can make commuting and running errands a challenge.

It's important to carefully consider both the pros and cons when making any major financial decision such as purchasing a home.