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If you can, test out other fabric types to determine which you prefer. Microfiber is generally not as soft as cotton or silk. Other textiles are also better than microfiber for moderating temperature. Cotton is very breathable, keeping you cool during the summer and warm during the winter. Linen is great for moderating temperature in high humidity. Consider linen if you sweat a lot at night. However, linen often has a rough texture. Egyptian cotton is generally considered the softest type of cotton, but there are now some brands that market lower grade products as "Egyptian cotton." Price is the major advantage for microfiber sheets. Microfiber sheets can cost as little as $20, whereas high quality cotton sheets might be several hundred dollars. Microfiber is durable and easy to wash. Cotton, on the other hand, is liable to shrink when washed. Microfiber might not be the most luxurious fabric, but you can buy it at a good price and keep it for a long time without investing a lot of effort into care.
Consider whether microfiber has the right feel for you. Decide how much you want to spend. Go with microfiber for durability.