How well you work at home depends on both your personality and your workspace. Find your personal working style, and design your office around it. Would you like to share an office with a spouse, or would you rather squirrel away by yourself. Ideally, you should locate your business somewhere away from the television and the refrigerator, in an extra bedroom, a corner of the recreation room, or even a large closet that has been converted to a work area. Just be sure it's separate from everything else.
Personal comfort is an important consideration.
Either locate accordingly, or be sure you have enough capital to remedy any problems. Remodeling a basement is a common solution, because basements are away from the bustle of family life. However, aside from the possible negative image a basement creates, it doesn't always provide optimum comfort levels. Additional heat and dehumidifying may be required. You may need to waterproof the walls, or install a new floor.