I've heard that baby should be in our room for as long as possible and was just wondering what the dangers would be of transitioning her to her own room at 4 or 5 months of age.
Red Nose does recommend Room Sharing for the first 6 to 12 months.
However, the following is included in that recommendation.
Parents are not expected to observe baby constantly.
If baby is sleeping in a separate room check baby regularly to ensure that the baby remains on the back and the head and face remain uncovered (as baby grows beyond 5-6 months they will move around the cot and roll over; settle baby to sleep on their back but let them find the sleep position they feel most comfortable in. A safe cot and safe sleep environment is still necessary for older babies).
It is suggested that parents who are not able to room share, check on their baby at regular intervals.