There are no rules regarding hair, only personal preference. Yours and theirs.
I know people who are disgusted by bodily hair, and others who are equally turned off by a lack thereof. It is impossible to appease everybody, so just do what you want to do. Eventually you'll find someone who wants you for how you like being, which means you just hit the jackpot.
Me, I'm a hairy bastard. I have hair in places dogs shouldn't have hair. You can tie braids in my armpit hair, and small animals sometimes get lost in the forest of my nether regions. I won't say I particularly like it, but I've done something not everyone here has. I tried shaving it off.
That was hell. It took me ages to shave off my armpit and chest hair, and I used up an insane amount of shaving cream. Afterwards, I looked like an underage alien. Not quite the effect I was hoping for (tip: I wouldn't recommend shaving off your chest/stomach hair unless you have well-defined musculature).
The weeks after that were downright nasty. My armpits smelled worse than before, my shirts became itching, burning hell due to the stubble (which was too small to shave off fully), and I couldn't bear to take my shirt off due to the ridiculous appearance.
I'm definitely not doing that again.
If you want to have a hair-free body, be prepared to maintain the upkeep. You'll need to wax and shave regularly, and you'll also have to deal with the cruel joke that is hair's response to regular removal (it grows faster the more you shave). I can't bring myself to do it, but then again I'm not particularly bothered by my hair.
I shave my facial hair though. That's just because I prefer a clean-shaven appearance or light stubble over a full beard. At least on my body.
So, really, do whatever you damn well want. People who try to put rules and standards on style and appearance are not worth listening to.