Here is my experience working remotely for half a year:
First thing I'd like to mention, we didn't have much problems with our communication. Skype and Slack were more or less enough to cover this part. Perhaps it's not as good as face-to-face everyday communication, but Scram daily meetings help and if there is something big to discuss we could always call each other anytime.
Working remotely gave me a few additional hours a day on average, approximately upto 3 hours and I was happy to spend this time to rest and learn. As long as you have a routine and all the necessary conditions (environment) it can be very efficient. Expenses-wise, time-wise, etc...
What I didn't like though is the lack of social communication and additional workload. Those were half a year that felt like a day to me, really. It was fine in the beginning, but several months later even I (an introvert by the way) was really uncomfortable with how little interaction I had with other people and outside world. It starts to creep on you. Little by little, you notice that this routine of 6-7 hours of coding is getting harder with each passing day.
Also, if you work in office, pretty much everywhere it's like:
People actually don't work 8 hours straight, they do it in very short burst of productivity with constant breaks. It's not as efficient as coding at home for hours without interruptions, but it's much better in the long run as it decrease a risk of burn out quite a bit.