The amount of hard drive space is very important because it will limit how many days of recording you can store before the system has to start recording over the oldest video. Each DVR will have its storage capacity listed in the specifications. But this calculation is just a rough estimate as there are many factors that affect hard drive use. The most critical factor being the compression format used by the DVR (for more info on compression formats click here). But also the type of cameras that are connected to the DVR make a difference (specifically the chip size and resolution) and also the features that are selected on the DVR. If you use the scheduling or motion detection features or tune down the frame rate that will extend the storage capacity of the unit. Even the field of view (what you are recording) will affect the storage capacity - the more complex the image, the more hard drive space it will take to capture the complexity.
So basically, you have to make the call.
