Both my wife and I were homeschooled, and we both firmly believe it was one of the best things our parents did for us. You can make it work, but make sure your children continue to socialize (e.g. sports and music did it for us). Do it wrong, and you can screw your kids up. That said, public school gone wrong screws kids up, too. But do it right, and your kids can really flourish in an environment that caters completely to their learning style.
You also need to analyze your reasons. Homeschooling isn't easy-- you need to take your reasons seriously enough to be motivated and organized to make sure your kids stay on track. Reasons that don't truly motivate you as homeschooling parents will cause you to lose your drive, at which point they turn into "those homeschoolers."