What are the advantages and disadvantages of living near a volcano? Do you think the advantages outweigh the disadvantages? ?

Depends on how often the volcano erupts. Volcanic soil, which belongs to a category of soils known as andisols, is derived from both volcanic lava and volcanic ash, both of which are rich in certain key nutrients, such as iron, calcium, magnesium, sodium, potassium, phosphorous, sulfur, silicon and many other trace elements, a rich combination that can act as a stimulant for plant growth. When volcanic ash and lava fall in the same place, particularly if the region receives good amounts of precipitation, this is an ideal situation for rapid regrowth and abundance of plant growth.

the only advantage i can see off hand is if the volcanic soil is valuable for growing whatever your crop is [coffee, for example]. the disadvantages are obvious -- risk of earthquakes and eruptions

Might be cheaper. Just have to run.