Advantages of buying property in Lakewood, New Jersey include:

1. Location: Lakewood is conveniently located near several major transportation routes such as the Garden State Parkway, Route 9, and Route 70, making it easy to get to places like New York City, Atlantic City or Philadelphia.

2. Education: The area has several well-regarded public and private schools, including Lakewood High School and Georgian Court University.

3. Diversity: Lakewood is a diverse community with a large Orthodox Jewish population, which contributes to a unique culture, cuisine and dynamic.

4. Real estate prices: Real estate prices in Lakewood are generally more affordable compared to other areas in New Jersey.

Disadvantages of buying property in Lakewood, New Jersey include:

1. Traffic: During peak travel times, there can be significant traffic congestion on the major transportation routes in and around Lakewood.

2. Taxes: Property taxes in New Jersey can be quite high in general, and Lakewood is no exception.

3. Potential for flooding: Lakewood is located near the coast, making it vulnerable to flooding during severe weather events such as hurricanes or tropical storms.

4. Limited infrastructure: Compared to other areas, Lakewood is relatively undeveloped and lacks certain amenities and services, such as an established public transit infrastructure.

These are just some factors to consider when deciding whether to buy property in Lakewood, New Jersey. Ultimately, the decision will depend on your personal preferences, priorities and budget.