Becoming a freelance artist and working from home is a possible career option for me. Of course I'd prefer to have a full time job in a studio, however it can potentially be a difficult task. There are pros and cons of freelancing: getting clients is more difficult for unknown graduate plus the amount of the money earned need to be enough to cover at least costs of living. There is no guarantee you'll have enough work each month to pay bills, some months ca be realy busy while other quiet. However, since having little baby, working from home cuts the cost of the childcare. Working alone can be daunting and also requires a lot of motivation and discipline. It's easy to lost hour or two scroling down tumblr or Facebook knowing there is no boss looking over your shoulder. Nevertheless deadlines and milestones has to be reached.
A motto/mantra I started to repeat is 'under promise, over deliver'. I've heard it during one of the LevelUp! streams and it resonates well with me. Afterall it's better to promise less to the client, achieve the goal or even exceed it by making something even better. That makes you look even more proffesional, results in a happy client who may decide to commission you again or recommend you.
Since I'm taking my baby steps as a freelancer I have to be extra good for the clients as I need to build not only a good portfolio but also a reputation. In the end it's good to have few good clients that are happy with the work and are most likely to come back again.