First off is the cost savings, this cannot be easily ignored. If you do not have to go into the "office", you are saving on transportation costs which include gas, parking and wear and tear, clothing costs, food and beverage costs and other expenses that just add up when you are commuting to the office.
As for the employer, there is also a cost savings of not having the extra work stations and with remote workers, a business can have minimum office space if its workers are virtual.
Let's not also forget the reduction of cars on our roads reduces the impact on the environment, so the benefit is felt not only for the individual and the employer, but for the community also.
Followed closely by cost savings is time savings. For those that have a long ride to the office, you can be saving two hours or more from your day. Instead of getting up at 6am and leaving the house at 7am to start work at 8am - you can roll out of bed at 6:45am and get a jump on the day by 7am!
If your children are old enough or are in school, you can also schedule work around the times that they are away or sleeping. Many work from home moms do a lot of work once the kids are in bed for naps or the night. This allows them the flexibility to spend quality time with them during the day and also save on child care - which can be really expensive especially with more than one child.
Another advantage is the flexibility of the work schedule. If you have appointments or other commitments, it is possible to work around them, work later or do some extra time on weekends. One must however be committed to getting the job done and not just let those non-work commitments take over.
Which brings us to the question, with all these advantages of working from home, is it for everyone? Only the individual can answer that question but generally, if you can work independently, are motivated and committed, then you too can enjoy all these advantages and work from home.