Pros:
1. The cost of living in Cattaraugus is lower than the national average, making it more affordable for homeowners.
2. The village of Cattaraugus is located in a scenic area and has outdoor recreation opportunities, including hiking, fishing, and skiing.
3. The village has a rich history, with many historic landmarks and buildings, which can be appealing for those interested in historic architecture.
4. The property values in Cattaraugus have been steadily increasing over the past few years, indicating a potentially good investment opportunity.

Cons:
1. The village of Cattaraugus is located in a rural area with limited amenities, including shopping and entertainment options.
2. The village has a smaller population compared to larger cities, which may result in fewer employment opportunities.
3. Extreme weather conditions, such as heavy snowfall during winter months, can make it difficult to commute or travel.
4. While the property values in Cattaraugus have been increasing, they may not grow as rapidly as in larger cities because of lower demand.

It's important to carefully consider the pros and cons before making any real estate purchase. Ultimately, the decision will depend on personal preferences, lifestyle, and financial goals.