Advantages of purchasing real estate in Newark, New York may include:

1. Affordability: Newark real estate prices are relatively affordable compared to other areas in the state. This could mean that you can get more bang for your buck in terms of square footage and amenities.

2. Quiet and peaceful living: Newark offers a small-town feel with its quiet and peaceful environment. If you are searching for a relaxing atmosphere with an authentic community vibe, then living in Newark may be a great option for you.

3. Accessible location: Located within a short distance from Rochester and Syracuse, Newark has the advantage of being relatively easy to get to, which offers a blend of small-town living with nearby amenities and employment opportunities.

Disadvantages of purchasing real estate in Newark, New York may include:

1. Limited job Opportunities: Due to its small size, Newark may not have many employment opportunities, which could be a factor if you need to commute for work.

2. Weather: The climate in Newark has cold and snowy winters that make the town less enjoyable for people that do not like snow and cold weather.

3. Limited entertainment options: Newark doesn't have many entertainment establishments or attractions, which could limit the options for recreational activities or nightlife.
4. Low appreciation: According to data, home values in Newark have only increased by 0.4% over the last decade, which means that the city may not have the potential for significant investment returns compared to other locations.

These are just a few examples, and there could be other factors to consider before purchasing real estate in Newark, New York. It is always advisable to conduct thorough research and hire a professional real estate agent familiar with the local market to help you make an informed decision.