As an amazing Christmas present from my lovely wife, I am having laser hair removal done for my back, neck (yay no shaving that part any more) and groin (including testicles, base of the penis shaft, area between genitals and anus).
My motivation is to never have to shave (and nick) areas that are hard to shave. I trim the rest of my body hair and it's not hard to do, just takes time. Also shaving can produce irritation of it's own.
That said my skin is fair and delicate and my hairs are coarse and dark so shaving is rough for me (I will have a 5 o clock shadow at 1pm), but I am a good candidate for laser.
As others have said it is *not* cheap... but it is spread out over a year, and the effects are (mostly) permanent. Hormonal changes in your body can prompt new hair growth, so if you are looking at HRT, menopause, orchi~ or other hormonal events, it may not be your best course of action.
The way it works is by literally burning the hairs and damaging the follicles from heat. So you will have a distributed high intensity burn. The combination of it being spread out in tiny places means it's more like a severe sunburn than a hospitalizing burn, but make no mistake each hair follicle is actually burned away. Recovery can be somewhat traumatic, with the area sensitive and puffy for days. The first hour after my first treatment I looked like I had been attacked by bees.
Subsequent treatments get easier as there is less and less hair to burn away, and the trauma goes down.
During treatment the hair looks patchy (especially the first time) as it grows back due to varying hair growth cycles and just the areas that the nurse traces may not always perfectly cover everything. It's also harder to shave as the hair texture changes to softer. After a few treatments you will look even, however it may take anywhere from 5-8 treatments to fully reduce your hair growth to the minimum!
Now let's talk about the burning.
You will hear and smell the sizzle and burn. This can be unnerving. It is also extremely uncomfortable. The pain is what I imagine an electric shock to feel like, short, sharp and intense. It's not like a needle prick or hair pull. Your experience may vary somewhat with the type of equipment, and skin/hair complexion. Light skin and dark hair is most effective at most complete removal. Sensitive skin is most painful. Your genitals are sensitive areas and they will hurt quite a bit. The worst is actually areas of dense hair with bone close to the skin, so your jaw line and upper lip.
So, expensive and painful, but if you can afford it and endure it, the feeling of being natural clean and not having to shave is wonderful! I'm actually thinking of expanding my treatment to include my belly...
Happy to answer any more questions.