There are several advantages and disadvantages to consider when buying property in Bellefonte, Pennsylvania:

Advantages:
- Bellefonte has a rich history and is known for its well-preserved Victorian architecture, making it an attractive place to live for those who appreciate historic charm.
- Located in Centre County, Bellefonte is within commuting distance to Penn State University and State College, making it a potentially desirable location for those affiliated with the university.
- Bellefonte is surrounded by natural beauty, with nearby state parks and outdoor recreational activities, making it an ideal location for those who enjoy spending time outdoors.
- The town has a variety of locally owned businesses, including shops and restaurants, that add to its unique character.

Disadvantages:
- While Bellefonte is relatively close to Penn State and State College, it is still a bit of a drive, which could be a disadvantage for those who need to commute regularly.
- Due to its small size, Bellefonte may not offer as many amenities or job opportunities as larger towns or cities.
- Bellefonte has experienced some economic decline in recent years, which could be a disadvantage for those who are looking to invest in the town.

Overall, whether or not Bellefonte is a good place to buy property will depend on the individual's needs and preferences. It could be a great option for someone who is looking for a small, historic town with natural beauty, but it may not be the best fit for someone who needs easy access to a larger city or more job opportunities.