Georgio's place is a true gem, however it might not be for everyone. If you're looking for nightlife activities, then this is not a good location, as it's in a quiet, residential area outside the main city. Also, I see a problem if you are a family with kids, traveling without a car (I will go more into details in a sec).
Personally, I loved the neighborhood as it had a very authentic feel to it, besides being very quiet and safe (people leave things outside such as shoes and they don't get stolen). The place itself is very clean, with all the amenities you would possibly need (and we stayed for an entire week).
As I mentioned earlier, it might pose a problem with people without a car as the closest beach is a 20 min walk away and the city centre is at 40 min walk. There are buses, but they are very rare and we ended up waiting for more than 30 min to get to the centre. The plus side is that they have AC and can get you nearly everywhere for aprox 1.50 euro. There is also a bus called Knossos express which has a station close by, the ticket is 5 eur (it's a daily ticket available for all lines). In the centre of Heraklion there is also a bus station to take you to other parts of the island.
If you find yourself in the situation where the check in is later than your arrival, you can use the 'Radical storage' service which for 5 eur will stow your luggage at a local business (we had it at Moritis Bikes).