There are numerous great lakes around the Metro area to live on. The piece of the puzzle to check out would be if you really want to enjoy living on the lake and what you’ll paying for property taxes or if you really want to just go fishing? You can probably figure lake values will be 20%-40% higher than non-lake properties and thus the property taxes to go along with that.
Lake Minnetonka with over 15,000 acres of water with numerous bays, channels, islands IMHO would be the crown jewel for both fishing and lake living.
There are smaller hidden jems all around the Metro, but do your homework on the Lake itself, the City it is located, the Watershed District, Lake Association and School District. Many Cities have special rules as do Watershed Districts and Lake Associations.
If you really enjoy & want a Beach, we now have Zebra Mussels invading many lakes which will clutter the beach areas in a few years.
A Friend on Minnetonka just found he has to replace 1/3 of his sprinkler heads due to Zebras getting into the system.
Last of all, Welcome to Minnesota