The three positive aspects of home ownership in Noel, Missouri are the affordability, the sense of community and the variety of housing options available. Noel is a small town with a median home value well below the national average, making it an affordable place to buy a home. The close-knit community makes it easy to build relationships and get to know your neighbors. Lastly, the variety of housing options available from single-family homes to apartment complexes make it easy to find the perfect place for any budget or lifestyle.

The one unappealing thing about owning a home in Noel is the limited access to amenities. Though there are plenty of places to shop and eat, public transportation is limited and there aren't many entertainment options in town.

Advantages of homeownership in Noel, Missouri:
- The opportunity to build equity over time and potentially gain value from the property if the real estate market in the area appreciates
- The ability to customize and make changes to the property to fit your needs and preferences
- The stability and security of owning your own home, as you do not need to worry about landlords increasing rent or not renewing leases
- Possible tax benefits, such as mortgage interest deductions and property tax deductions

Disadvantages of homeownership in Noel, Missouri:
- The responsibility of maintaining and repairing the property falls solely on the homeowner, which can be expensive and time-consuming
- The possibility of property values decreasing, which can be problematic if you financed the property with a mortgage and owe more than the property is worth
- Higher upfront costs, as homeowners typically must pay for a down payment, closing costs, and other expenses associated with buying a property
- The inability to move quickly or easily, as selling a home can take time and may result in financial losses if the real estate market is not in your favor.