Our room from the start because his room is down the other end of the house. It's easier for night feeding plus I'm too anxious about not being able to see him.
I think the recommendation is that they sleep in with the parents for at least the first 6 months, which was another factor in our decision.
We have a large bassinet that at almost 5 months DS still fits in quite comfortably. If he grows out of it before we're ready to move him, I'll be making the cot fit in our bedroom.
We're very lucky in that DS is such a quiet sleeper - never hear a snuffle or a snore out of him!!
If you want your baby in with you, what about hiring a portacot? I don't have one myself but I have heard people doing this when room is limited.
Do what feels right for you, good luck!!