Hi, I lived in halls for first year and in a student house for the first term of second year, before I moved back home due to drastic problems with my housemates. Commuting is a pain, but I have a lot less to worry about. I pay my mum a lump sum every month which covers rent, bills and food, instead of having to pay them all seperately.
I also get a bit down-hearted when I can't attend events or parties without having to find a sofa to crash on first. I guess it depends on you individually, which would be best for your lifestyle.