I don't know that this is the right phrase, but there's nothing inadequate about a home studio. Just because you're not renting space for $3000 a month doesn't mean you can't produce quality results. I have a friend of mine that photographs motorcycles and automobiles in his "home studio" (a converted barn) that blows the doors off of many commercial spaces. A home studio is just another way of saying "fully stocked" because the fridge, microwave, bathroom, and office are conveniently co-located. Plus, it's climate controlled!!
-Chip
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