We had two houses, one a typical three bed semi, the other a one bed cottage for weekends etc. I lost my job and we had to downshift.We sold the three bed semi and put most of the furniture into store and moved into the one bed cottage.. We sold some bits of furniture and did a bit of a clear out, car boot sales charity shops and some to the dump.
Now 4 months on we hardly miss most of the stuff in the store. Last week we took half out and are currently sifting through it to sell.
It is difficult and very painful but we realised that if the things are in a store for four months we do not realy need them.
You have to be ruthless with yourself and dump all emotional ties with your belongings to do it. We are still coming to terms with it and getting through it if only slowly.
We are happier ,less stressed and still manage to have holidays in exotic places.
Our income is about 15% of what it was this time last year.

So go for it but plan it and do not rush it mistakes can be costly, in time and stress.
We made a few and will make more but are heading in the right direction.