I live in the Great White North, so I'll throw my 2 cents in.
Noch, a model (train) company out of Germany is highlighting their snow products for wargamers on their website, Ziterdes, which is designed for wargaming. Ziterdes also has some great extruded foam pieces. While I find them a bit pricey, they paint up nice and are quite durable and very light, so shipping is cheaper that way! Ziterdes has a line up of lake town houses and pieces you can use to modify them. Note that they won't be detailed on the inside. They also have bridges and boats and other fun things.
In N. America, Woodland Scenics is our go-to for terrain, as they've pretty much monopolized the market. Their products are affordable, available and easy to work with. Even if you choose not to use their product, they have a great video on how to make a snow scene. If you want to try their product, they make a snow scene kit for school projects that has samples and instructions.
Lots of guys use liquid water paste to make ice and icicles. I can explain how to do it, but you'd be better off to look on youtube for model train videos.
If you absolutely don't want to spend any money, you can use baking powder and white school glue. Just make a past and smear. Some people say this yellows, but I haven't had a problem with it.
As for water, most people mix 2 part resin and pour or use some kind of resin counter top finish. You can see an example of poured resin in DMS's mindblowing diorama. I've also seen waves made from caulking. Just squeeze and use a finger to blend. (Wear disposable gloves, though. Safety first!) Alternatively, I've seen the plastic covers of florescent tube lights spray painted and drybrushed lightly for water. I think it looks pretty good and unlike resin, it won't flow everywhere.
Good luck and whatever you decide, show pictures!
_________________ "Diplomacy is the art of saying 'nice doggie' until you can find a rock." -Will Rogers
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