I've posted about this here before, but since the end of the dot-com era (for me, 10/2001), I've ONLY worked at home except for travel, and a brief period early in one startup when we had an office in a tech incubator about a mile from my house.
(We realized it wasn't worth the rent, and gave it up after about 6 months.)
Some of those years were very travel heavy -- fullish time on the road -- but for the last 10 client travel has vanished in favor of GoToMeeting conferences.
I love it. I love the flexibility of it, I love not having a commute, and I love not having dry cleaning bills anymore. The music in my office is whatever I want. If I feel like it, I can catch a nap. And I love being able to eat at home, where one can make MUCH healthier choices.
People SAY they'd miss the water cooler, but in my whole career I've only had co-workers I really really liked on a social level in one company. It's rare.
My current employer -- where I've been for almost 13 years, which shocks me -- is entirely virtual. We have no office space anywhere, and the closest other employee to me is about 4 hours away by car. I have colleagues that, until recently, I'd never even seen a picture of.
I get that not everyone is constitutionally able to do this. I came to it from heavy travel (even pre-2001), so I was used to working in weird places (hotel rooms or lobbies; airport bars; frequent-flier clubs; taxis) already, and I think that made it easier.
I also get that it's not even appropriate for everyone, and that our success at my current company is tied to the fact that we have never had "entry level" developers. I think it'd be super hard to mentor and acculturate and teach this way.
But as for me, at this point I'd have a very hard time going back to an office.