My offspring are both currently living at home.
My son was 17 when he started university last year, in Economics. I asked him, "Did you feel like your first year of University was really just Grade 13?"
"Yes!"
"Is that why you're moving out in September?" (He's been planning this for awhile, organizing his finances and finding friends to share a flat with.)
"Yes!" he says emphatically.
He can't wait to leave home, but personally - I'm glad he lived here this past year. Seventeen is very young to be out and on your own. I'm happy he'll be a legal adult when he leaves.
My daughter (now 20) has just completed her second year in Health Sciences. She's interned these past two summers in her University's bio lab. I asked her, "Do you feel like your university experience has been an extension of high school?"
She thought about it, carefully. "Maybe...? A bit? But I'm really happy here."
"Do you think living at home has kept you from growing up?"
She thought some more. "I think it's slowed the process down. Like having a safety net. I'm still growing up, but I'm doing it at a slower pace than I would have if I'd moved out. And, I'm good with that." (For the record, she has no intention of leaving before the end of her Bachelor. Then it'll all come down to where she does her Masters.)
When it came to where to go to school, we left the choice in our children's hands. We laid out the finances, including all of the money we'd put aside in their RESPs and went over the budget. But in the end, it was their decision. I don't personally think living at home or living abroad is the make-or-break moment of anyone's life. Even with her "safety net" of living at home, our daughter's life is still full of growth experiences (working, travel to an academic conference this spring, managing her budget, dealing with the impending death of her grandmother, etc). I think it helps that her father and I expect her to do all of her own banking, medical appts, etc. We stay out of her academic and professional life, too. She's not a child, and we try very hard not to treat her as one.