I slept on a futon on a frame for most of high school, got rid of the frame after moving out, and now have a proper bed with a frame. I liked having a futon, I could go back. My apartment is really small, so the added bonus of gaining extra floor space is a consideration. I sleep on my stomach so its not a issue, but most of my gfs slept on their sides, and they thought a futon was uncomfortable.
Also, I bought a new futon mattress every year, because sweat and sex and beer get into the fabric deep. Remember that, and everyone invited to your house will want to sit on your bed.