And i also work from home since forever,almost never experienced office work.I was actually studying this and concluded how it depend on your life settings,as both ways have their advantages and cons.
Working at home have following -
1.No additional financial cost
2.Saving on gas and time
3.Faster response time in case of emergencies (once i had servers going down often,was waking up in 3am by cellphone uptime warning)
While having office have following advantages:
1.Separated private and business life (at home someone can always bother you and not respecting your work)
2.Real human to human contact
3.Office banter
4.Brain can work better due change of scenery(but again depend from person to person)
And here is good old comic probaly already seen by everyvone but it is good reminder:
http://theoatmeal.com/comics/working_home