I roomed with two really close friends this last year, and for a while it was really rocky it would always be groups of two, with the third person feeling left out. You won't have that issue though...
You'll generally be fine, it's a safe decision, but make sure you know what you're getting into. How easygoing is your friend? How "clingy" is your friend? Is he going into this expecting to share a life? When you go out, will he expect to come? I don't think you'll have a problem with sharing the space, cleaning, etc, as long as you're reasonable that stuff is fine. It's the life sharing that ends up being an issue. One of my roommates/friends is SUPER needy...needy like if he doesn't get invited to dinner he won't eat. So make sure you're not getting one of those.