Yeah I have done that from time to time, also from the other side of the planet.
I hated the long commute to work (2 hours each way) and my job primarily was on the phone with no "immediate" supervisor, so we had a trial at work and I applied for it. As I had a pretty good reason. International calls were the worst, and you had to be up early (3am) to get the calls from the different time zones.
Other than the cel phone, laptop and VPN connection, the job was the same.
It was the issues at home that caused the most problems, and made me install a lock on the study. Every five minutes its a knock on the door from the other half wanting help with this and that. Which shows true separation from work and home life is a necessity, if not essential.
If I had to do it all over again, I would build or convert a garage/shed/conservatory/whatever into an office. I'm pretty sure you can write it off in your taxes. There are some companies that specialize in these dwellings, but my favorite is the one where you can put your desk in one room and have an arcade room in the other:
That adds some interesting ways to beat stress. Hang up after dealing with that irritating customer, nip next door for a couple of games of Robotron. Then be chilled to take the next caller or make the next million dollar sale.
Bliss.