As with everything in life, "it depends".
Our oldest home schools her two boys (7 and 5) and makes a full time job out of it - prep, classes, grading takes maybe 5 or 6 hours of the day, but then she does a lot of field trips to local museums and such, so there's some travel time... but that's the beauty of the home schooling: she sets the schedule.
We home schooled our youngest of two girls and though the oldest went through public schools, that was some years ago and the foolishness wasn't as full blown as it is now.
Our youngest who we DID home school benefited greatly plus she's a smart gal.
We took advantage of home school programs like a retired physics and chemistry teacher set up shop in a church and taught classes and labs. Parents could either let him do both, or we could do the bookwork as prep for the labs at home then take the student to his facility for the labs. In those disciplines that worked out great as not everyone has a full set of chemistry equipment and all the goodies to demonstrate physics in their homes.
When she got past Calc II and I couldn't keep up, never mind teach it, we got a brainiac college student in our chuch to tutor her twice a week for a small sum, and she took our daughter up through the really eye-glazing stuff. Daughter has her Phd in organic chemistry now.
We both worked while home schooling but we had the good fortune of flexible schedules so we were able to arrange her school days with one parent or the other available. There were other times when we both had to be out, and we gave her homework to keep her busy.
So we've been there done that and are strong supporters of that form of education. For conservative parents unwilling to let their children be exposed to the cesspool of public schools, yet without deep enough pockets to send them to private schools (which we've come to learn cannot always be trusted, either!) it's the only way to go.
In the time we home schooled, colleges were going through the transition from believing schooled kids were dumb and unsocialized to actually preferring them, having experienced home schooled kids, by and large, stand head and shoulders above public schooled kids.
The grade school years are the most challenging - by the time they are "in high school" you have set a work ethic and good study habits such that you can make assignments on the way out the door in the morning, check in by phone over lunch (or go home if you're close by) and grade/discuss lessons at night.
Yes, it's a huge commitment - but isn't it worth it??
It's SINFULLNESS now.