I don't really like having facial hair. I don't usually grow it out unless I'm staying at home for the holidays. If I'm working or if I am going to uni then I usually shave. The most I will grow my facial hair is a 3-day stubble. Funnily enough, I look young when I am clean shaven but even when I grow some facial hair I still look young. Someone actually said to me "I can still see your babyface underneath all that facial hair, it looks like you just stuck the hair on your face". Lol. But in general, facial hair makes me look too scruffy and untidy. I like being clean shaven because I like looking fresh. Yet lately I have gotten more attetion from girls when I let the facial hair grow out. I love how smooth my face feels after a shave. Smooth as a baby's bottom.
I keep stubble. I think it makes me look older and gives off more of a "down to earth" feel. I like to keep myself fairly well together and it helps to dial down my daily dress to something more casual.
It could be completely sociological, maybe the frame of mind I'm in at the time, but I find women genuinely respond better towards me when I have some facial hair. Nothing extensive but a 5o'clock shadow has done nothing but good for my image.