I like the idea of working from home, in terms of working from an environment you're most comfortable with.
That being said, it's important to stay in sync with your team and that's hard even when you're working from an office, at times.
The following are the drawbacks for me when working from home:
- I prefer f2f conversations, particularly for design discussions. Skype, Hangouts, GoToMeeting all are good, but aren't 100% yet.
- When a team member is stuck somewhere or if I am stuck somewhere, we can help out each other by pair coding.
- Banter. I don't know how many of you will agree with me, but I believe in camaraderie and I have lots of fun when I talk to my colleagues about absolutely random shit.