Overall, it is difficult to make generalizations about the advantages and disadvantages of home ownership in Otselic, New York without more specific information about the local real estate market, economy and community factors.

However, here are some potential advantages and disadvantages of owning a home in Otselic, New York:

Advantages:
- Lower cost of living compared to more urbanized areas of New York state
- Generally more space/land for your money
- Homeownership allows you more control over your living space
- Ability to build equity over time instead of paying rent
- Pride in ownership and a sense of community

Disadvantages:
- Certain aspects of homeownership, such as property taxes and maintenance can be costly and time-consuming
- Limited access to amenities found more commonly in larger urban centres
- Rural areas like Otselic can be more isolated, making it difficult for people who enjoy an active social life
- Resale value may not be as strong as in higher demand locations, particularly if the local economy is struggling

Remember that there are many factors to consider, such as your personal preferences, financial situation, and long-term goals, so it's important to weigh the pros and cons of home ownership in Otselic, NY carefully before making a decision.