All mine have been in our room, next to me. DD1 5 months, DD2 9 months, DS 12 months (but still co slept til about 3 months ago) & DD3 still going.
Its totally up to you, but TBH, I can't stand being that far from mine. Knowing that they'd have to be well & truly upset before I'd wake coz I wouldn't hear them as well. Next to me, DD3 barely has a sook & I'm awake. DH would be lucky to hear her.