I'm 22 and having a shaved head is the best type of haircut IMO.
It's low maintenance, cool (in the summer), and cuts morning preparation anywhere from 5 to 20 minutes.
I used to get 1.5/2 "clipper" sized shaves, but I recently went down to 1. Ideally, the hair would stay that short, but it grows back, so I try and go shorter and shorter.
People you know will likely have comments when you get a really short haircut. My mom says I look like a cancer patient, and my friend calls me a skinhead, but it's all in jest.
You don't need to be tall and jacked to look good with a buzz cut or bald head. Some people look better with long hair, some with short, and some with none.
I have always been a fan of short hair, as it is just easier, and I like the look. People around me (or anyone) will notice a change in haircut, but with time they will get used to it. They may drag it out a little to be overly dramatic, but it's your head and hair, so you should have the final decision.
I recommend going to a barber and having him use a higher numbered clipper size, and then work his way down so you can see how the different levels of shortness look. If you want to go bald, they can accomodate that also.
And lastly, if it doesn't work out and you don't like the look, hair grows back, so it's not a huge deal.
Take care.