For the pro, I would like to emphasize that you don't need any transportation to get into your work. You can become more productive and at the same time, wear your comfortable clothes. For the cons, I'd say that it is hard for a lot of us because of the new normal. But I think social relationships with our co-workers can become really important.
Pros: No travel. Less expenses. Can take shorter breaks with kitchen downstairs. Washroom across the hall. Can dress down. Depending on your circumstances (in my case no kids), it is a lot quieter and easier to focus. Less interruptions. More creative.
Cons: Unless you set deadlines it can be easy to let things slide. Sometimes harder to find answers to problems. I'm an introvert so the lack of a social environment doesn't bother me, however I've been a lot more anxious lately being locked inside all the time (more of a covid issue).
I highly recommend anyone working from home install their own home-gym. Do a workout before you start the day. Drink lots of water (coffee doesn't count..lol). If you need to de-stress through the day, just jump on the treadmill for 10 minutes. Clears the mind and almost always gets me back on track.
Pros: No hustle and bustle of the city (I can save a lot of time, especially during traffic jams). You can wear comfortable clothes while doing your work.
Cons: Having a stiff body from sitting too much. You can accumulate stress long-term. Sometimes, you need someone to talk to. It would help if you socialized with your co-workers.