I'm living by myself for the first time this year.
Pros:
-You have absolute control over
everything.
-You can walk around naked, sing to the Backstreet Boys at the top of your lungs, and everything else you've always wanted to do but feared embarrassment.

-Few or no worries about having to be quiet - an absolute must if you're trying polyphasic sleep.
Cons:
-You have absolute responsibility over
everything.
-Bills!
-If you're not an introvert, it can get very lonely very quickly.
But on the whole, I love it and wouldn't trade it for any other situation (except maybe a bigger kitchen

). And I think you'll love it, too.