From what I gather from my friends who are in their respective houses, living in house has its advantages and disadvantages, but overall it ends up being a good thing. Yeah it can get kind of hectic w/ 45+ girls in one house, especially when you crave your privacy. But you're always just a few feet away from company when you need it. If food, util, rent is covered, then definitely go for living in the house. I live in an apt that's 1100 a month (divided by 4!), plus my util., telephone, food...let's just say that it costs me quite a bit.
If my chapter had a house, I'd live there in a heartbeat.