New Castle Northwest is a small unincorporated village located within Shenango Township, Lawrence County, Pennsylvania. Here are some potential pros and cons to consider when buying property in the area:

Pros:
- Cost of living: According to BestPlaces, the cost of living in New Castle Northwest is lower than the U.S. average, meaning residents can potentially save on overall costs for things like housing, groceries, healthcare, and more.
- Location: New Castle Northwest is situated in a scenic area of rural Pennsylvania, which could be a pro for those who enjoy the outdoors, nature, and a quieter way of life.
- Affordable housing: Real estate in New Castle Northwest, as well as other surrounding areas in Lawrence County, can be more affordable compared to other parts of the state or country. This can potentially make homeownership more feasible for those on a budget.

Cons:
- Limited amenities: While New Castle Northwest does have some local shops and services in the area, larger retail centers and entertainment options may require commuting to other nearby areas, which could become a drawback for some residents.
- Job market: The job market in the New Castle area is lower compared to the national average, and job opportunities may be limited. This may be a factor to consider if you are looking to relocate and need to secure employment in the area.
- Limited diversity: According to data from BestPlaces, the population of New Castle Northwest skews heavily towards Caucasian residents, with limited racial or ethnic diversity. This may be a factor to consider if you are looking for a more diverse community.

Overall, like any location, there are both pros and cons to buying property in New Castle Northwest. It is recommended that you research the area further and visit in person to get a better understanding of whether it would be a good fit for your needs and lifestyle.