Willoughby is a great city to buy property in, but like any city, there are advantages and disadvantages that should be considered before making a purchase. Here are a few:

Advantages:
1. Location: Willoughby is located in Lake County which is known for its beautiful landscape and many parks. Also, it is about 25 miles east of downtown Cleveland, OH.

2. Education: The city is home to a good school district and has several private schools and abundant educational resources.

3. Community: Willoughby is a tight-knit community that regularly holds events and festivals that can give a sense of belonging, according to various sources.

4. Real Estate Property Value: The real estate property value in Willoughby is relatively affordable compared to other metropolitan areas.

5. Local Economy: Willoughby, OH, has a robust and continuously expanding economy. The city, region and state governments offer several financial incentives to attract businesses in the area.

Disadvantages:
1. Flood risk: Willoughby is considerably close to Lake Erie and depending on the area of the city where you decide to buy property, you might be at risk of flooding, which is a major disadvantage.

2. Extreme Temperatures: Lake-effect snow is known to cause large amounts of snow in the region, which can cause days with extreme temperatures and challenging driving conditions.

3. Limited Transportation: Public transportation can be limited, especially if you decide to live more rural or suburban. Therefore it is important to have a personal vehicle if you live in Willoughby.

4. Competition: Being in a great location, Willoughby is also a fairly competitive area for homebuyers.

5. Property Taxes: Property taxes in Willoughby, Ohio, can be very high. It is important to take into consideration your overall budget and expenses before buying any property.

Overall, Willoughby has a lot to offer, but it is also essential to conduct thorough research and take into account the aforementioned aspects to make an informed decision.