I actually moved closer to the school in November of D1. I started off commuting from my parents' place in Brooklyn, but 1.5 hours each way was killing me. So I just looked at a few apartments in walkups in the area, realized that I hated walkups, and just went and asked at one of the big building developments near school if they had any studios available. They did, they showed it to me, I liked it, so I signed a lease on the spot. My loans come out to around $3,000 a month for personal expenses including rent (in D1 it was exactly 3,000, this year it's more like 2,950 or so). If I was living with roommates, it would be more than enough. As it is, most of that goes to my rent and utility bills (electric and internet). So in D1 I supplemented with my savings from when I worked. This year, my parents have been helping me out a bit and bringing me groceries every weekend. Mom usually also slips me like sixty bucks every weekend so that I have money to go out for food or drinks with friends, or to a movie or something if I have time.
I grew up in NYC. So adjusting to the pace wasn't an issue for me at all. I do live walking distance from the school, about 7-10 minutes depending how fast I walk. It's definitely super convenient and super awesome.
My biggest advice to incoming D1's is to just relax while you still can. Don't try to spend the summer pre-studying, you'll wind up burning out before you even start. And just... figure out the most effective and efficient way for you to study, and stick to it. Don't waste 20 hours studying with method A if method B gets you better results and takes you 15 hours. Time management is essential, so learn to manage your time.
Also, realize everyone studies differently. Like studentdent00 for example, from what they said, are probably not the kind of person who can cram and do well. And that's ok. Some people need to study every day to truly absorb and retain the material. Some people are able to get away with cramming for an exam and pulling off a passing grade. I happen to be a crammer; I only need to actively read through something once to be able to recall most of it. It doesn't get me A's, but it gets me B's. I'm sure if I studied daily and went over material more than once, I'd have A's... but that's not important to me. What's important to me is maintaining my sanity with copious amounts of downtime.