I live in NYC, and we own a condo in Stowe...I've been going there with my family for over 30 years - several family members own homes/condos there as well. We are also planning on moving permanently to VT in the next year or two and will be positioning ourselves in Stowe in the condo while we figure out where we want to settle down.
There are several things about Stowe that are important to know:
1. the cost of living is much higher in resort towns...the property taxes in Stowe are extremely high in comparison to other towns, and most everything in town is priced for the tourist. Due to the high value of real estate within Stowe, the taxes are not going to come down anytime soon, and will continue rising - along with the town budget.
2. I'm not sure how much time you have spent in Stowe or what times of year you have been there...but holidays periods are a nightmare. During winter holidays, getting around town while skiers get to and from the mountain (morning and 5pm) is insane...traffic is a standstill at the intersections of 100 and 108 a lot of the time...people can be rude and obnoxious (sigh, yes, those would be my fellow NYers)...summer is crowded as well, and well, foliage - that's obvious.
3. Real estate in Stowe, like taxes, is very expensive. But if you already own a home, you've got that covered!
4. I'm not sure how much a 'real-town' feel Stowe has in comparison to other towns in VT. There is definitely a very strong and vibrant local community, but as an out-of-towner, it takes time to break in...
5. Stowe and northern Lamoille County are running out of electricity...there are constant brownouts and the solution, running new power lines, is in the works and construction should start soon - but in the meantime, Stowe is in court with Vermont Electric over the cost - if Stowe loses, electric rates in town are slated to rise 45%. Something to consider.
On the positive end:
1. Because it's a resort town, there are more amenities in the area, which is one thing I like - the gym, swimming hole, movies, food markets, etc are a big draw. Obviously, there are other towns in VT that have this as well though.
2. If you get up early enough, you can get to the mountain in 10 minutes.

3. The farmers market, Mozart festival, Antique Car show and the like are all a lot of fun, and the town in general has a lot going on and a lot of cultural activities as well.
4. You CAN live there for cheap if you know how...and you can also avoid the traffic most of the time.
All that being said, the only way you'll know if you can live there is actually spending considerable time there and comparing it to other towns...Waterbury is a great town as well, close to Stowe and yet nowhere near as touristy...we've also considered the Mad River Valley, Montpelier and the Jericho/Underhill area. We will be 'living' in the condo for a month or so this summer so we can start scoping out potential living spots...I'm sure others here will chime in with lots more advice and I'm sure I'll remember a few other things too.
