I moved out as soon as I could when I was 19. I had a very strained relationship with my parents and a very fortunate opportunity to move into a friend's new house essentially for free by agreeing to do work on it with him and his dad. Growing up, my parents were very suffocating in their attempts to manage aspects of my life for me, so I never got to really be independent. When I moved out, it wasn't because I felt anything like "Oh, I'm an adult now, so I shouldn't be depending on my parents anymore," it was because I needed to be in control of my life to get back on my feet after a really rough go at grades 6-12.
Since moving out, I've been able to make amends with my parents, find success in school, and improve my mental health. I even took it a step further and moved out of my friend's house and into my own apartment just this past month. Being in charge of my own bills, groceries, chores, etc has been arguably the most positive impact on my life to date.
This is somewhat similar to my own experience.
The prevailing sentiment in this thread seems to be "moving out is overrated," but for me, moving out has been a big important step in my personal development. I also had the experience of moving back in with my parents (about a year after I first moved out, my main income stream disappeared and I moved back in with them for several months to build up a bit of a cash buffer before moving out again), so I've seen it from both sides. That said, my situation is a bit unique in a number of ways.
One of the biggest things that has come with leaving my parents home and living on my own is getting out of the suburbs in a pretty boring town that doesn't have much going on, and the ability to move to a bigger city and live in a neighborhood. Since I work remotely (and thus can work from anywhere), I was able to cross state lines, and spent a year living in Boulder, CO and Pittsburgh, PA, quite a far cry from the California Central Valley where I grew up. Thus, a lot of the changes noted below might be largely due to that change of scenery; if I had moved to a different house in the suburbs of the same city where I grew up, the change might not have been as pronounced. However, I do think it needs to be said that one of the "pros" of living alone is that you get to choose the city and neighborhood where you reside. (Significantly, I have always chosen to live in cities/neighborhoods where it was not necessary to own a car, which significantly reduced my living expenses.)
Another thing that colors my experience is the fact that I come from an Asian-American family, and even when they're supportive, Asian families can tend to have boundary issues. My parents were conscious of this (and my mother always tried to intentionally resist it because she had some negative experiences with her own mother), but even so, the nature of our relationship was that they wanted to be involved in my life as long as I was living with them. For example, if I ever brought someone home, they'd want to meet that person (and in fact would probably want to invite them to dinner); this automatically meant that any date that involved "let's head back to my place" would immediately escalate to "Hey, you get to meet my parents." I'd hesitate to describe my parents as oppressive or overbearing, and in fact they were very supportive; the nature of a total lack of boundaries is that they can sometimes tend to be TOO supportive: they were fine with me borrowing one of their cars in the evening, but they would always ask where I was going, and if the answer happened to be "I'm going on a date," then my mother would try to give me a bag of cookies to take with me. (I suppose my mother figured that giving someone baked goods was a good way to try and win their affections.) And then upon returning from the date, I'd get some eager questioning about how it went, and then for the next few weeks could expect questions about whether I was still seeing that girl and how things were going. (I made a point of never sharing the full names of people with my parents, lest my mother take the initiative to start stalking them on Facebook, though this is a sort of "over-involvement" that has happened even when I've not been living with my parents, starting with college.) Again, lack of boundaries, from parents that tried a bit too hard to be "supportive" of their son's endeavors.
Another caveat which applies mainly to me, and probably not others: the nature of my work (which is mostly short-term remote contracts) is that my income is mostly dependent on my productivity (if I'm willing to work more, I can take on more jobs), and one of the struggles of being a more-or-less full time freelancer who works from home means having to motivate myself to be productive. The nature of remote work means that the place where I live is also the place where I work, so where I live tends to affect my productivity a lot.
With those qualifiers out of the way:
I have a much easier time being productive when I'm not living with my parents. Living on my own for the first time really put me in the mindset of "the only life I'm going to have is what I'm able to build for myself," which led to me being a lot more disciplined and diligent with respect to my work. Also, being able to just dedicate myself to a task and pull off 12+ hour workdays (when I was really into the work I was doing, or was trying to put in extra time to buy myself a day off) without any fear of interruption or concern from my parents really allowed me to start accepting more jobs. And on the flip side, not having to answer to anybody but myself meant I felt more at liberty to do zero-hour workdays without fear of judgment from my parents, even if it only came in the form of a raised eyebrow and a "So what have you been doing all day?" when they came home to find me sitting on the couch playing video games. (My work schedule is super flexible, so sometimes it's nice to have a shorter work week and just working more hours.) Despite having total freedom, I've actually built a lot more structure into my life, and have done a much better job of maintaining good habits (like going to the gym on a regular scheduled basis, instead of just working out or not depending on how I feel that day).
That mentality of "all I have is what I make for myself" has also translated over to my social life as well: the sea change of being the head of my own household puts me in the mindset that it's really up to me to form and cultivate relationships, and I've found myself a lot more motivated to go to social engagements and spend time with friends if for no other reason than to avoid the inherent loneliness that comes with living alone. I realize it can sound a bit dour to say "I actively spend more time with friends to avoid loneliness," but the truth is that it's led to me cultivating a lot of relationships that are richer and more significant than I ever took the effort to form when I was living under my parents' roof. Also, this is partly based on the city that I moved out of; I grew up in a city that, while not exactly rural, was pretty agrarian, and moving to a major city has put me into much closer contact with the sort of people who value education and are more cosmopolitan, for lack of a better word. I don't mean for this to come across as elitist, but as a non-white person I definitely find myself more "at home" in that kind of environment and it is kind of nice to live in a neighborhood with a few young people are ethnically similar to me (an experience I never had growing up).
Having had (on several occasions) the experience of moving back in with my parents, I've found that my productivity tends to drop precipitously when I'm living with them. I spend more time watching TV and playing video games, not in a fun way, but in a "meh, I don't really have anything to do for the next 4 hours, so I guess it's time to binge some mediocre anime until I get sleepy enough to fall asleep" sort of way. Or a "huh, I guess I did just spend 3 hours on reddit doing nothing in particular." When I'm on my own, I'm just much more in the mentality of being my own taskmaster, partly because it's impossible to NOT be in that mental mode when you know that every meal in your fridge and every rent check that you write has to be the product of your own capability. To be clear, living on my own, I still have plenty of leisure time, but I tend to spend that leisure time doing things that I actually want to do (meeting up with friends, or doing activities I really care about or going to movies I really want to see), rather than falling into the mode of, "Well, I'm going to be on this couch for the next several hours, so let's see what entertainment is within reach."
Side note: I've also started eating healthier. My parents aren't exactly unhealthy eaters, but when you prepare all of your own meals it's much easier to decide "I'm going to eliminate potatoes and bread from my diet" or "I'm actually going to measure out and eat exactly 2200 calories every day." Though, I will admit that I find myself eating a lot of Soylent (especially for breakfast), which is always my fallback for a healthy option on days when I don't feel like preparing a full meal.
It should be noted that I'm not super financially comfortable (such is the nature of short-term contract work, especially when you're still chipping away at student loan debt), but I consider living under my own roof an incredibly important part of my life. My relationships, my career, and basically every part of my life would not be where they are right now if I had continued to live with my parents. My relationship with my parents has also improved a lot since moving out: I still call them almost every week, and I usually spend 2 hours on the phone every Saturday getting them caught up on my life and letting them catch me up on things back home, and we get into long-winded conversations about what's wrong with the world and how to fix them. It feels like I'm actually friends with my parents, in a way that wasn't really possible when I was living under their roof.
If your parents are okay with you living at home, but you think that moving out could be an important step in your personal development, my personal recommendation would be to at least give independent living a "trial run:" instead of putting your name on a 12-month lease, just find a local AirBNB and book a stay for 60 or 90 days and see how it goes. If it turns out to be a life-changing experience for you and totally worth it, then you can figure out a way to make it happy (either by extending your AirBNB stay, or by finding something longer term), and if it's not the grand adventure you hoped it would be, you can always move back in with mom and dad. I think it's good to at least have that experience. Also, AirBNB is a great way to "sample" different cities and neighborhoods if you're not sure exactly where you want to live. That being said, I'd approach this with less urgency if you already have an exit plan, e.g. "Living with my parents for the next 18 months will let me build up enough cash to make a down payment so I can buy instead of rent."