Well this thread explains why I haven't found people to share a condo... Last year was my first and I stayed in a house with amazing people by picking up a space at the last minute. It took very little time to get to the place in La Quinta on one of the golf courses and it was a very laid back party house, but the majority of people were over thirty so there's that.
I'm almost 50, and I say camp.
If you don't get much sleep at night because of the noise take a mid morning, or early afternoon nap.
Make your own meals, and drink your own booze.
Buy a camp shower and wash up in a speedo if you don't like the shower lines.
More than half my Coachella stories are associated with the camping experience part of the festival. I can't give that up.
Im all for camping. Over the years Ive learned to make it comfortable though. I bring a mattress (and couch) in my truck every year. Good ear plugs. Shade canopy and no tent, sheet walls for privacy. Open all the walls except the one on the sun side for ventilation in the AM and heat wont be a problem. And those shower trailers arent half bad, water is hot. Only real down side is porta potties but its worth it.
I've been going to Coachella since 2003. I've camped every year except for 2005 and 2009, when we went with a hotel. To echo what everyone has been saying, the upside of a hotel is obvious -- you get a solid night's sleep and a clean hot shower. Camping beats a hotel in every other way -- it's more fun, more convenient in terms of attending the festival, and it's more unique. I consider it to be part of the festival experience; it's hard to feel like you've escaped the real world for a weekend when you have to take a shuttle to and from your hotel every day. I would go with camping unless you have some kind of health issue or something like that.