Well, it's cold in the winter but that's only part of the year.

You've got average high temperatures around 30 in January and 80 in July. The seasons are part of life here.
Route 3 runs through Meredith, which is an important north-south state highway. I-93 is the nearest interstate highway (about 15 minutes away) and that provides direct access to larger towns and cities like Tilton, Concord, Manchester, and Boston. There's also Route 25 which runs east through the Lakes Region towards Portland, Maine, and Route 104 which runs west towards I-93.
With the exception of I-93 these are largely two-lane highways (one lane in each direction), but traffic is rarely an issue in NH.
Wolfeboro is also a very quaint town in a beautiful setting, but it has a slightly different character than Meredith. First of all, it's a more expensive town (based on median home values and even prices in stores), largely due to its status as a summer resort area for wealthy urbanites. It also tends to be a bit quieter and less busy than Meredith because it's more isolated. The downside is that it takes a while to drive from Wolfeboro to any larger towns, for certain amenities and whatnot.
I do prefer the eastern (Wolfeboro) side of Lake Winnepesaukee to the western (Meredith) side for the tranquility and scenic beauty, but overall I think that Meredith is the better place to live, unless you're a retiree or something.

A Wolfeboro-Meredith commute is not very practical because you have to go around the lake -- it takes about 50 minutes.