Here are some pros and cons of homeownership in the town of Waverly, New York:

Pros:
1. Increasing property values: Over time, property values in Waverly may increase, allowing you to potentially earn a profit on your investment if you decide to sell in the future.

2. Pride of ownership: Owning a home in Waverly can give you a sense of pride and accomplishment.

3. Stability: Homeownership provides stability as you can stay in your house long-term, without the risk of being forced to move due to lease agreements.

4. Tax benefits: Homeowners in Waverly can benefit from tax deductions for mortgage interest, property taxes, and other related expenses.

Cons:
1. Upfront costs: Buying a home involves upfront costs like a down payment, closing costs, and moving expenses, which can be significant.

2. Maintenance and repair costs: As a homeowner in Waverly, you'll be responsible for maintaining your property and making repairs, which can be costly.

3. Risk of market fluctuations: Property values can fluctuate based on several factors, including local and national economic conditions, and this can impact the overall value of your property.

4. Limited flexibility: Homeownership in Waverly can be inflexible compared to renting, as you may need to sell your home before moving to a new area.

It's essential to consider all of these factors before making a decision to buy a home in Waverly or any other area.