'A bit of both; I didn't want to waste money, and it only takes half an hour to get there. I'm not so inclined to apply for accommodation for these reasons, but if that thought ever hits me, I'll consider it. '
However, once you pay your parents rent etc and your commuting costs the difference may not be so great................
I just personally think that you will never get the full experience without living there. However, in your position I would perhaps get a part time job and holiday work if finances would be an issue and ask the uni if you can move into accommodation with first years in your 2nd year, no-one will give a stuff that you are 2nd year and in fact you might even be the 'go to' person in your halls if you know the place!