My partner and I spent 8 days at Dream Villa and had a wonderful time. Although the hosts live downstairs they do not intrude in any way on your privacy and you can ask to be left alone if you wish to go for the all-over tan.
The villa is beautiful and the host keeps it spotlessly clean with fresh towels every day. The villa appears to have been done out recently and to a very high standard. Often in european places there will be light switches that don't do anything/odd plumbing/dodgy looking wiring etc but here everything worked as it should.
The village of Vourvoulos is small with only 2 tavernas and a couple mini-market shops so you need a car to get to larger supermarkets in Thira for certain things but we got on fine with a car for only 4 of the 8 days we stayed. Both tavernas in the village are good with 'Roza' being best for food but the 'Aidani' having surprisingly pleasant 'home made wine' (we only tried the white) at only 5euros for a 1/2 litre jug and decent food.
Both bedrooms and the main living room/kitchen were air conditioned and the bed was one of the most comfortable I have slept in.
On the several occasions we woke up at a respectable time we got treated to lovely breakfasts by the hosts with gorgeous home made desserts. We were also treated to a great evening barbecue dinner. Despite speaking almost no English the hosts were wonderful and kind and we were able to understand each other (often using drawings and google-translated text). They really couldn't do enough for us and even let us borrow their little dog to take him for a walk.