Niles is a small village located in Cayuga County, New York, and, like many small towns, may have some unique advantages and disadvantages of homeownership. Here are some potential advantages of owning a home in Niles:

Advantages:
- Cheaper cost of living as compared to bigger cities and towns
- A tight-knit sense of community
- Peaceful setting with less traffic and noise
- The potential for a spacious yard or lot that comes with most rural homes
- Value appreciation due to the scarcity of properties available.

Here are some possible disadvantages of owning a home in Niles:

Disadvantages:
- Limited job opportunities
- Longer commutes to larger urban areas
- Less access to entertainment and cultural events that are often available in urban areas
- More difficult to find services when people are needed, such as lawyers, doctors, plumbers, electricians, and others.

It would be best to analyze thoroughly the advantages as well as the disadvantages of homeownership in Niles, to see if this is the right location for you.