Banner Elk is located in the beautiful Appalachian Mountains of North Carolina and it is a popular destination for those seeking outdoor recreational activities such as skiing, hiking and fishing. Here are some advantages and disadvantages of home ownership in Banner Elk:

Advantages:
1. Scenic location: Banner Elk's location in the mountains provides residents with beautiful views year-round and opportunities to enjoy the great outdoors.
2. Four-season climate: The area experiences all four seasons, with warmer weather in the summer and snowfall in the winter, making it an ideal location for those that enjoy seasonal diversity.
3. High quality of life: With its low crime rate, excellent schools, and plentiful recreational and cultural opportunities, Banner Elk is a great place to live for those seeking a high quality of life.
4. Real estate appreciation: Banner Elk's popularity as a vacation destination means that home values are generally stable or increasing, making it a potentially smart investment.

Disadvantages:
1. High property taxes: As with many desirable areas, property taxes in Banner Elk can be relatively high.
2. Tourism-driven economy: While the high number of visitors to the area can drive up home values, tourism is also a major component of the local economy, which can result in fluctuating job opportunities.
3. Natural disasters: While the area's natural beauty is a major draw, it also means that homeowners must contend with the possibility of extreme weather events such as hurricanes and floods.

Overall, Banner Elk offers a beautiful and desirable location for home ownership but potential buyers should consider these factors before making a decision.