This is a question I always turn back on the student to answer because there is no way for me to say which choice is a better one. However, what we can do is have an honest and open conversation about what you think are the positives and negatives of the situation.
I think first you have to define what "far" is. Is it the other side of the country? How about another time zone? Another climate or region? Or is it just the next state over?
Next, I think you need to think about how you relate to your family and your home life. I've known students who couldn't wait to graduate from high school and take off on the college adventure only to realize they missed the familiarity of home, friends and their family. Others, took off and didn't look back because they were okay with keeping up with people through email, the phone and Skype.
Another consideration is cost. If you go far, you will need to live on campus (and I'm a big believer in living on campus regardless of where you go, but that's a topic for another day) and you will have to think about how you will get home for holidays and breaks. If you are across the country, that could mean paying for multiple flights each year which is a cost you may not necessarily think about when you are looking at schools. If you were to stay close to home and actually live at home, you could save yourself quite a bit of money which might be used towards a car, or saved for graduate school.
At the end of the day, there are several layers to this question, but they all begin with figuring out what is important to you first. Start there and the answer will reveal itself eventually.