There are several advantages and disadvantages to consider when purchasing real estate in New Castle, Pennsylvania.

Advantages:
1. Affordability: Compared to larger cities in Pennsylvania, real estate in New Castle is generally more affordable, making it an attractive location for people looking for a lower cost of living.
2. Proximity to amenities: New Castle is located within driving distance of larger metropolitan areas like Pittsburgh and Youngstown, Ohio, while still offering access to a variety of smaller-town amenities.
3. Community spirit: New Castle has a close-knit community that takes pride in the history and culture of the region.

Disadvantages:
1. Limited job opportunities: Jobs can be difficult to find in New Castle, with the majority of employment opportunities found in manufacturing and healthcare.
2. High crime rate: While the city has taken steps to reduce crime, New Castle still has a relatively high crime rate compared to other small cities in Pennsylvania.
3. Population decline: New Castle's population has been declining over the past several decades, which can lead to a decrease in property values and business development in the region.

It's important to do your own research and speak with a real estate professional before making any major financial decisions.