Montreal is a city in Wisconsin, located in the northern part of the state, near Lake Superior. Iron County is a nearby county, but Montreal is not within its borders. Nonetheless, in terms of the pros and cons of home ownership in Montreal, Wisconsin, some possible factors to consider are:

Pros:
1. Stable investment: A home in Montreal could potentially serve as a long-term investment that appreciates in value.
2. Reduced cost: Homeowners can deduct mortgage interest, property taxes, and other expenses as a means of reducing their annual tax obligations.
3. Sense of ownership: Owning a home gives a sense of pride and accomplishment and stability knowing it's your own personal space.
4. Control: As a homeowner, you have the freedom to paint walls, make changes to the property, and create the space that is perfect for you.

Cons:
1. Maintenance costs: Homeowners are solely responsible for the repair and maintenance of their property, which can be quite expensive over time.
2. Time commitment: Owning a home can be time-consuming, from lawn care to shoveling walkways to dealing with any repairs or other issues that may arise.
3. Reduced flexibility: Selling a home can be a time-consuming process, and it can be difficult to quickly move or relocate if necessary.
4. Depreciating value: Values of homes in Montreal, Wisconsin may not always appreciate and it may take a lot of time increase in valuation.