I live in a small Victorian terrace. There are niggles - bathroom being downstairs was weird at first, although I'm used to it now. Parking on the street can be difficult, but we're right by the end of the terrace so we can usually squash on the end, we have a tiny yard rather than a garden.
I love love love the high ceilings, how cool it stays in summer, the big windows, the huge bedrooms, how it looks from the outside. We have no problems with noise - we do occasionally hear one side, but it's only ever when they're laughing really loudly, which always puts a smile on my face.
However, we've got no children. If we did decide to have kids, I would probably move - our bathroom is very cold in winter because it's downstairs, and the lack of garden would bother me. That being said, this is basically an extended two-up, two-down. I know someone who has a five bed Victorian terrace in Leeds with almost half an acre of garden between the front and the back and it's HUGE, with more than enough room to raise a whole army of children should you want, so it very much depends on the house.