Good builders will make all the difference!
We rewired, replumbed, replastered, repainted every ceiling/wall. New windows, doors, flooring, skirting, architrave, radiators, and even the staircase handrail & spindles. We completely restructured the layout downstairs, knocking down walls and creating new doorways,etc. We went the whole hog and had a 2 storey extension built at the same time as 'living in'. Ceilings came down, walls were chased, floorboards up but we always had a temporary kitchen - cobbled together from some of the old kitchen units taken out from the original kitchen. We were lucky that this was our original utility room (renovated last and turned into a study) and that we had a double garage that we could store most of our stuff.
We were never left without any water/electricity in the evening so cannot understand why so many seemed to have to endure this (probably have to praise my builder further). DC were 5 & 8 and mostly at school - we shipped them in the school hols to stay with GP's but all in, they finished within the 4 mth contractual deadline. (They did work quite a lot of weekends though which we allowed just so that the end would come sooner).
You will have more control by living on site - I was there to make the myriad daily decisions that crop up as they needed to be made which avoids delay or rework. You also need to spec the details - I never gave the type of architrave or coving any thought at all until my builder presented me with a choice of 4 to choose from! I was however extremely specific about the doors and door handles though. This type of detail - you might not have drilled down to when you accept a formal quotation at the start but if you can specify as much detail as possible, it'll be to your advantage.
We had the original carpets cleaned professionally before we moved in so that it smelled better. Our builders started the following month and once there's dust in the air, the carpets won't be a concern.