I live in the Alexandria area (about 1 hour 45 minutes southwest of Brainerd) - Brainerd and Alexandria have almost identical populations - in Alexandria there are a number of beautiful lakes ranging from a few hundred acres to about 9,000 acres in size (some of the lakes are connected so you can go lake to lake) - plenty of things to do - proximity to highway 94 to either go west to Fargo or east to the Twin Cities - I think it is probably a similar distance to the Twin Cities from both Alexandria and Brainerd (128 or so miles) - Alexandria does not have the proximity to a lake as large as Mille Lacs - as @MN Fisher mentioned the Leech Lake area is beautiful
I moved here from the east coast - here are some house buying things to possible consider:
---living "on" a lake (ie, property that has direct lake front access) drives the cost up significantly
----taxes and "assessments" are significantly higher if you own lake front property
-----you need to take in to account (if you buy lake front property) that boats, PWC, kayaks, ect....will be buzzing around when the water is liquid and ice fisherman, trucks, ice fishing houses, augers, ect....will be buzzing around when the lake is frozen -- and they can be buzzing around 24/7
Certainly there are pros to living "on" the lake - you can walk down, lower your boat lift and cruise out on to the water (although there is a cost to putting that dock/lift into the water in the spring and taking it out of the water before it freezes over).
I did lots and lots of research before buying. I live half a mile from a lake (I can easily walk, ride my bike to the lake) and I am about 15 minutes from a DNR ramp - so it is easy to drive the boat down and dunk it in the water. I would say every 40 yards closer you get to the lake (from my house) the prices of homes increase rapidly .
I would add:
---my dad gave my brothers and I this advice when it came to purchasing a home - buy the least expensive place in the nicest neighbourhood you can get in to (I did that - and as people in the neighbourhood have added on three car garages, big decks, nice landscaping, ect... - the value of my property has risen quite a bit without me doing much to it).....as they say - location, location, location
-----I agree fully with @Swamp Girl - find a home with "good bones" (ie, rock solid foundation, solid/newer roof, good windows, no water/flooding concerns, good insulation) and then embrace taking on projects like painting/making it your own -- check out big ticket items like the furnace/well (I have well water)/septic tank/deck/roof/ect....for defects or approximate timeline they may need to be replaced -- because when you buy the house these all become your responsibility to maintain/replace
-----Be honest with yourself about the size of property/length of driveway that you are excited about maintaining --- it takes time/effort/equipment to maintain and show pride of ownership for your home (I have 1.5 acres and embrace/enjoy the yard work that comes along with that - many people would not want that)
-----I believe these things were said before - drive into the neighbourhood at all different times day/night to see/hear what it is like - ask people who live there why they chose that neighborhood ?, would they chose it again ?, what is the best part of living here ?, what are the challenges of living there ?
-----Get the home inspected by a licensed inspector
--------Purchase a home that fits YOU the best ---- What is most important to you ? What are your must haves ? What are your deal breakers ? (ie, cracked foundation, water leak issues, damaged roof, ect...) What are your "I'm ok with that quirk" ?, "I am ok with taking on that project")
Wishing you the best of luck in your search !