Some potential pros and cons of purchasing real estate in Sunset Bay, New York could include:

Pros:
- Location: Sunset Bay is a popular waterfront community located on the shores of Lake Erie, which could be a major draw for those interested in boating, fishing, and other water-based activities.
- Community: Sunset Bay has a tight-knit community feel, with many long-time residents and active community organizations like the Sunset Bay Beach Club and Sunset Bay Fire Department.
- Investment potential: As with many coastal communities, real estate in Sunset Bay could have good investment potential, with the potential for property values to appreciate over time.

Cons:
- Climate: The climate in Sunset Bay can be harsh, with heavy snowfall in the winter and frequent lake-effect snowstorms. Additionally, the area can be prone to flooding due to its proximity to the lake.
- Seasonal use: Because Sunset Bay is primarily a summer destination, many homes in the area may only be occupied seasonally, which could impact the sense of community in the off-season.
- Limited amenities: While Sunset Bay has a few local shops and restaurants, it is relatively isolated from major urban areas and may not offer the same level of amenities and services as larger cities or towns.

It's important to note that these are just a few potential pros and cons of purchasing real estate in Sunset Bay, and whether or not it's a good fit will depend on your personal needs and priorities.