I lived in Brighton and Hove for nearly 20 years. I now live in Bristol after I ran out of things to do and realised that Brighton is vastly over hyped. While I lived there it was the greatest place on earth but now I don't live there all I can say is it's a nice place to visit. It got very small, very expensive and very far away from other places. Here's some added advice: don't commute to London from Brighton, no matter what anyone tells you it's a living hell and will drain your soul in a heartbeat.
I work in IT and Brighton is supposed to be the UK's Silicon Valley. Finding work in Brighton was nigh on impossible. I had one job in Brighton while I was there and all the other times I worked in London, Crawley, Tunbridge Wells and the surrounding areas. Which reminds me, if you have a car you're fucked. It takes 18 months to get a permit and Brighton is the most ridiculously priced place to park in the UK. £6 for 4 hours in some parts. I can get that for £1.80 in Briz.
On the flip side, if you're a 'well up for it' type of person and still have some energy for going out then you'll have a wicked time - loads of good nights going on. If you like a sit down and a nice cup of tea then it probably isn't for you.
What else, lots of nice restaurants, mostly over rated. The beach is made up of a trillion stones and still stinks of piss from the first Big Beach Boutique. Summer is a foreign student and hen party hell. Gay Pride is a bit shit to be honest and when there's any inkling of any half decent festival going on it usually gets shot to pieces by the local authorities.
It has one redeeming factor though which would be the people. I've met some absolute loons that I would now consider to be very good friends.
I certainly wouldn't make as big a decision as selling a house to move there, though.