We have had a place down there for nearly 10 years.
Pros:
+convenient to DC (especially with the new section of the I95 express lanes opened last week)
+lots of variety in neighborhoods and sections of lake
+restaurant/music scene pretty good and getting better quickly
+Cutalong golf club recently opened if you are into that
+good rental market, if you want to rent your place
+nice wildlife; we have nesting bald eagles and great blue herons, groundhogs, rabbits, turtles, and tons of fish
+big lots without close neighbors are available
Cons:
-nuclear plant turns many people off
-some sections of the lake, especially on the northern end, have water quality issues
-house prices have doubled there since we bought, which is good for us, but makes it less affordable than it was
-minimal hiking access; the state park has some nice trails, but not a ton of variety, and there is no way to hike around the lake and no nearby mountains
-it's pretty white and a little Trumpy sometimes
-unlike places like Deep Creek, there are no real winter activities there; I personally like it, as it's really peaceful and I mostly just want to hang out at my house or go listen to music, but that's not everyone's thing.
If you decide to explore it, we LOVED our real estate agent: Linda Fosdick with Lake Anna Realty (
https://www.discoverlakeanna.com/). She is beyond patient and knows the lake like the back of her hand.