Here are some pros and cons of homeownership in the village of Lookingglass, Oregon:

Pros:
- Affordability: Lookingglass is a rural area, which means that property values and housing costs are generally lower than in urban areas.
- Peaceful and quiet: Living in a small village can be ideal for those who enjoy a slower pace of life and a close-knit community.
- Natural beauty: Lookingglass is surrounded by forests, rivers, and other scenic landscapes, making it an attractive location for those who enjoy nature.
- Sense of ownership and stability: Owning a home can provide a sense of pride, stability, and control over one's living situation.

Cons:
- Limited job opportunities: Rural areas may have fewer job opportunities, which can be a disadvantage for those who need to work locally.
- Limited amenities: Lookingglass is a small village, which means that there may be limited restaurants, shops, or other amenities compared to larger towns or cities.
- Distance from urban centers: Lookingglass is about 25 minutes from the city of Roseburg, which could be inconvenient for those who need to travel frequently to urban centers.
- Higher maintenance costs: If you own a home, you'll need to pay for routine maintenance, repairs, and any home improvements. In rural areas, some services may not be easily accessible, which can make maintenance more costly and challenging.

These are just a few pros and cons to consider, and there may be other factors to take into account depending on your specific situation and preferences.