The Höfe area, despite - or, depending on one's perspective - because of being part of Canton Congo

, is a very nice place to live. (I'm just up the hill from Wollerau.)
I rented in Männedorf for several years, then bought a house over here - so I've pretty much done what you are contemplating. For our family moving out here was a very good choice.
But whether it is the right choice for you really depends on your expectations. Are you looking for your town to be the center of your activities? If so, then you really need to spend a fair amount of time getting to know the town.
I really don't need all that much from my home town other than sufficient personal space, basic amenities, reasonable commute to my husband's job - it has always seemed to me that the entire Zurichsee area is so small that one can live pretty much anywhere.
Even when I lived on the 'right' coast, my social life was fairly well scattered around the metro Zürich area. As much as I liked Männedorf (and I truly did - it's a great town), many of my friends and activities were based elsewhere - so moving to the 'left' coast wasn't really much of a change for me in that respect.
Yes, the tax rates make the Höfe area very attractive - that was indeed a factor in our move. When you compare the tax rate plus rent in Männedorf to taxes plus mortgage in Schindellegi-Feusisberg the savings are huge.
I don't have children, so can't comment on schools. etc.
When house hunting, I was primarily looking for a garden - after that, taxes were important, and then I looked at the town itself. Backwards, perhaps - but everyone has different priorities. I've been very happy in my charming little town - people have been very friendly and welcoming.
Come to think of it, my life here is pretty much just like it was on the 'right' coast.
Since moving out here, I do find I venture into the city less and less - I'd prefer Rapperswil or Einsiedeln. But Zürich is certainly still a fairly easy commute. I spend most of my free time hiking - we are just at the foot of the Etzel and Rossberg, the Aegrisee area is 15 minutes away, Glarus, Sarganserland and Toggenberg hiking is 30 minutes to an hour away. For me, this area is ideal.
The only complaint I have is that the area is becoming more built up. Those low taxes mean lots of people moving in - which is good for resale value, but I suspect that soon my little 2 cow town will lose something of the village feel in the process.
All in all, Höfe is a lovely area. As is the entire Zürichsee area - you really can't go wrong in any of the towns around the lake, from the city to the Obersee.
Best of luck in your decision.