Any forms of workout can give you the best results you want. You don't need that professional knowledge to exercise. What you need to put into consideration is the fact that you should exercise the all body. Stomach exercises may not be the best for leg exercises, for instance. After some time, you will realize that you will have achieved much, without spending any money.
Do not worry, this is a wonderful idea, working at home is a good start and if you have some videos to guide you it is even better and I am sure you will see results after a couple of months do not give up because working at home is more difficult then a gym.
I think a workout at home is possible but you have to be highly motivated. In the end, it's all a mind game. I mean, if you really can motivate yourself, then you normally go outside to jog and use dumbbells to workout all the major body parts. Therefore, it's a really effective and cheap way to go.
It's completely fine doing the exercise at home. As long as you can easily pull it off. I don't think there is much need for the same. I have noticed that some of the time doing exercise has it's set of the limitations. I can tell you that if you do exercise at home make sure to have those equipment. That way you'd have some sort of routine.
I much prefer the privacy of the home versus any kind of gym, but at the same time I do know myself and know that I get more done if I do go to a gym. I would rather save the money though and try to drum up the motivation.
If you are a highly disciplined, determined and focused person on your goals, this is a great tactic (especially for the financial aspect, avoiding money with gym / personal trainer).