Short Hills, New Jersey is known for its high-end real estate market, affluent community, and highly rated schools. Some advantages of purchasing real estate in Short Hills include:

1. High-quality education: The Millburn Township School District, which serves Short Hills, is consistently ranked as one of the top school districts in the state.

2. Proximity to New York City: Short Hills is located within commuting distance to New York City. The area has a train station and bus service allowing residents to easily commute to NYC for work or leisure.

3. High property values: The local real estate market continues to thrive, with many properties appreciating in value over time. This can make owning a property in Short Hills a smart investment.

4. Upscale shopping: The Short Hills Mall features luxury retailers and high-end dining, making it a popular destination for shoppers.

However, there are also some disadvantages to purchasing real estate in Short Hills, including:

1. High cost of living: The cost of living in Short Hills is higher than the national average, which includes higher property taxes, housing prices and overall living expenses.

2. Limited diversity: Short Hills is not a very diverse community in terms of ethnicity and culture.

3. Limited public transportation: Although public transportation exists, it may not be as reliable or convenient as one might desire to move around within the State of New Jersey.

4. Limited nightlife: Short Hills is a predominantly residential area that lacks the nightlife of larger, urban areas.

Overall, purchasing real estate in Short Hills can be a great investment for those seeking a high-quality of life, excellent education system and luxury amenities. However, be aware the cost of living can be high, and one should consider the lack of diversity and limited public transportation.