I have worked from home for about 2.5 years now. I enjoy it. My wife has been working from home for 8 years, she likes it too.
Some things to know. You get way more work done in way less time, you aren't bothered by your co-workers into going out for a smoke/coffee/lunch etc... You tend to work more, your office is really close by so you tend to pick up the laptop and do just one more thing... You don't commute so you put way less miles on your car. Also, if you qualify you can write off a portion of electric, gas, mortgage etc... (this is a tough one to make happen as it is based on AGI but it is possible if you jump thru the right hoops).
I would say that in a given 6 hours I work more than I would in 10 at a office. Most Silicon Valley companies believe in work at home because they don't have to rent expensive office space and they know the employees get way more done.
You will miss seeing the folks you work with but that is what IM is for. I work on a team that has people all over the world and I IM with them every day.