Downsizing your home can be the quickest road to getting back on your feet after a severe financial hit.
Personally, I went from a 2,500 square foot home and I'm now in 697 square feet of apartment space (heading for a 733 square foot condo next month).
I don't miss the house, it was a huge pain, backbreaking to clean and the yard was a nightmare. How many nasty surprises can you get in one lifetime? Add a big house and double the number. The last estimate I got on replanting grass and bringing the place up to par was about $50K. Seriously.
In fact, a tree feel through the roof just a month after I left. I considered it a sign that I had done the right thing.
But downsizing can be so emotionally scary. Here are some posts about how to deal with it and enjoy the whole process.
From 1500 to 673 square feet. Take photos of the space to make it easier.
Using the Konmari Method to Declutter
Want to be inspired to downsize, regardless of your financial situation? Check out Apartment Therapy, it's eye-candy for downsizers.