There are various advantages and disadvantages of home ownership in Lockport, New York which should be taken into account:

Advantages:
- Generally, Lockport has a lower cost of living than many other cities in New York State, which makes it more affordable to own a home there.
- Home values have been rising in recent years which means that homeowners are likely to see a return on their investment.
- The city offers various amenities such as cultural attractions, parks, and outdoor recreational opportunities.
- Owning a home can provide a sense of stability and control over living arrangements.

Disadvantages:
- Property taxes in Lockport can be relatively high compared to other neighboring cities, which may raise the overall cost of homeownership.
- Lockport's job market is not very diverse and may not offer as many employment opportunities as other larger cities.
- The city can experience harsh winter weather which may make it more difficult to maintain a home and keep up with repairs.
- Homeowners are responsible for maintenance and repairs, which can add up over time.

Ultimately, the decision to own a home in Lockport, NY will depend on individual circumstances and preferences. It's important to factor in all of the relevant considerations before making a decision.