Room in student village or rent a room in the city

Not entirely sure what you mean by a student village. Is it that your university is a closed campus and so all the accommodations are in like a little village? Or do you just mean accommodation in the city specifically for students? Because they're 2 very different scenarios.

Before you choose anywhere or sign anything first you need to make sure you can afford it. Do you know how much money you will be getting from student finance yet? Have your drawn up a yearly budget to make sure you can afford rent and food and any other expenses? Too many students go to uni not having a clue how to budget and end up maxing on their overdrafts because they didn't properly prepare.

After you have established what you can and can't afford think about the pros and cons of each type of accommodation (such as travel time to uni) and what exactly you're looking for in an accommodation. It's hard for me to elaborate further on this bit without knowing exactly what you're talking about.