If you would rather live somewhere a bit further out, there are a few nice villages by Cribbs Causeway, puts you close enough to the motorway for commuting, good shopping centre but then only a 10-15 minute drive into town, you would probably get more for your money out there too. Parking is a nightmare in the centre and surrounding areas but then you do have the option of permits I suppose.
Tried to google maps the area but no idea how I show what I mean but parts of Hallen, Henbury, Avonmouth, Easter Compton are all nice.