Possibly the best thing about graduate school is setting your own schedule. Even though it's a shit ton of work, I always say I'd rather work 70 hours a week on my own schedule than 40 hours a week when someone else gets to dictate when and where I work.
Especially now that I'm an advanced student, I'm barely at all tied to the university, because I'm off doing my on work. So I work from home, because it's more comfortable and it's got the animals and people I like all conveniently within arms reach. And I don't have to wear pants.
Which gets to the downside of working at home -- I realized that in the entire week last week, I only got out of my pajamas once. Which don't get me wrong, is pretty awesome, but also makes you feel somewhat worthless.
Anyway, the fine mind over at The Oatmeal has correctly captured the dizzying highs, dispiriting lows, and creamy middles of working at home far better than I ever could. Go check it out.