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You save money on accommodation. Even with transport costs, you would be saving lots of money compared to living in halls.
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You can keep the job that you currently have at home which would save you from finding a new job at uni.
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You will be close to your friends and family.
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You don't get the same experience of moving out and being independent - cooking for yourself, cleaning, living independently.
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You will be further away if you want to go on nights out/out with friends.
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You will be further away from uni and you might get tired on the commute, and the commute could be long if you are only in uni for an hour or two.
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It's typically easier to make friends as you meet people in your accommodation, but this doesn't mean you wouldn't make friends if you did commute.
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