Moving out.

I'm thinking about moving into a flat with two of my best friends. Not sure if I should do it, so I'm asking for you to list general pros and cons of moving out of home and in with friends.

The context-specific pros and cons are:

Pros:
-They're my friends. It will be awesome.
-One plays guitar and the other drums. I'm learning bass. BAND.
-I'll learn to be more independent and better with money and be an adult and get a haircut.

Cons:
-It's even further away from things (uni, the gym, work, the shops) than I currently am.
-Probably a negative impact on my study, maybe, but one of them is still at uni also.
-Expensive. Will have to work more, spend less on frivolous things, and get more (government, interest-free) debt.

Your turn, go!

Also anecdotes of good/bad things are cool too.