I lived on the bottom floor in Pendle ghetto first year, and honestly I wouldn't have changed that even if I'd had the choice. The kitchen was a bit rough but nothing that made it unusable, and the rooms themselves were actually bigger than in most ensuite/more expensive accommodation.
I didn't really see the lack of a sofa area a problem; admittedly, we'd tend to predrink in somewhere like Grizedale or County as they had better socialising areas, but on the basis that everywhere on campus is within a few minutes walk that wasn't really an issue.
I know that certainly the atmosphere was better in ghetto than in posh during freshers week and even beyond, though really that mostly just comes down to which people are living where, and that'll differ year on year. Either way, living in ghetto is nothing to worry about.