@killyourfm great article! I've gone this way the past few years & kept the things I enjoy. My main enjoyment is my music, so hifi/CDs and Vinyl. I don't have much in my house and enjoy that fact. But, I do go through the process of "would I regret this?" when I get rid of stuff - which isn't simple, right?
If my child moved out, I could down size easily. But, my music collection is me, and always has been. That would never go.
I've gone the other way though - "would this be beneficial to me?"