Hi,
PhD's can be scary but when things work out, they are very rewarding. The best people to talk to about living with PhD studies is to talk to the postgraduate students (so it's good you're posting on this site :-) When you visit potential supervisors make sure you talk to their students. They'll give you the inside story of what the supervisor, university and city is really like. I've found my PhD to have a lots of ups and downs, but it's always been interesting!