If you're thinking about working from home you're certainly not alone. There has been an all out revolution to bring the office home over the past decade. You need to be able to effectively evaluate whether or not you're at high risk for failure before you make your final decision.
One of the most important parts of making this decision is understanding why you want to be at home for your work day. Some people like the idea of not commuting in rush hour traffic. Others believe it will give them more time with the family.
Yet others find that they prefer to be at home because they have difficulties being out in the world, either physically or mentally. Working from home can give you more opportunities than working for others if you feel your choices are limited.
It's pretty much a given that you won't have to be stuck on the freeway in rush hour traffic if your commute is right at home. You might get more time with your family or you might end up spending less time with them. It's dependent upon the work you're doing and your lifestyle. You can't expect working from home to equate to a permanent vacation, and the work that has to get done isn't always on a 9 to 5 schedule.
People who do jobs from home are apt to work more and see their family less. People who build businesses see their family less in the early stages but more in the later stages. If you have little ones at home it can be quite difficult to get your workday accomplished while caring for them. Many families still put their children into day care or hire a sitter to come to the house in order to maintain a work schedule.
If you find that you are able to work better if you maintain a flexible schedule you could do very well for yourself. Flexibility is important when you work at home, but you don't want to become so flexible that you find you're also becoming flexible with your income. Whether you work incrementally throughout the day or you end up working through the overnight hours in order to accomplish your goal you have to come up with a workable and applicable plan.
Bad days happen even at home. Working from home means that you have to know how to put aside emotional stress that comes with arguing with a significant other or avoiding your computer altogether because you received some constructive criticism. If you can remain disciplined you can develop a strong income and find that extra free time your were looking for if you're willing to really put the work into it. If you're able to be self motivated you might just do very well at home and creating an income.