5) Save energy.  Working at home saves a lot of energy (and carbon) that would be expended commuting, traveling, and building and heating workspaces.  Don't move meat.

 4) Make friends for life.  Meet interesting colleagues and future good friends from towns you have never heard of.

 3) Lower fixed costs. You can hire a distributed team week to week, with no fixed costs.   So, you can save the 50% in organizational and overhead costs, or pay everyone twice as much, and eliminate the risk of going broke. 

2) Get started faster.  Each team member starts work NOW, without moving around.

1) Raise quality by shopping for the best talent available in the world.