[Ouisch]

PRO living with parents:
You have a roof over your head.
All your belongings are in place, you don't have to move them and worry about throwing out things/storing them.
If parents charge rent, it is certainly less than you'd be paying if living on your own (no utilities, etc.)
Mom takes the responsibility to stock things like toilet paper, laundry detergent, and linens.
You'll never be alone at night, sitting in a lonely apartment/flat with no money/nothing to do. At least your parents will be there to talk to or watch TV with.

CON living with parents:
You must abide by their rules.
You probably can't have "overnight" visitors.
They might pry into your personal life: "If you can afford to buy those expensive shoes, why can't you help us out more financially?"
It's difficult to invite friends over to just sit and party and watch DVDs or whatever, depending upon your parents' schedule.