Dorm life can be incredibly fun, but is incredibly daunting, depending where you live. If you live in a very old room, you might be worried about getting mesothelioma or something from the asbestos you imagine lives in the walls.
If you don't have a good college fund backing you up, or you want to be thrifty, the older dorms are often a small choice. It's highly doubtful you'll ACTUALLY get some crazy disease like mesothelioma from anything in the walls. you might get meningitis, but that's why you get immunizations before freshman year!
The less flashy dorms are often the best choice, because they're simply cheaper, and you'll more than likely have an easier time getting into them.
But overall, a dorm room is what you make it. Sure, my room may be haunted by the ghost of some former student named Rodrigo, have 'DEATH HELP' carved in huge letters in the door and have strange happenings all the time, but that doesn't mean it can't be fun!