We used to live in a 2000+ square foot house with three car garage and garden shed. We had lots and lots of stuff. Over a few years, we downsized to an apartment and now to the 1BR condo we live in in Belize. We have no car, just bicycles. The condo is still on the large size for the two of us plus our little dog (~980 sq ft). We visited friends here today who live in a much smaller 1BR condo and realized that we could easily live in their space...no problem. The only thing we'd miss is our washer-dryer. We have our own, and they have a shared laundry facility for the eight units in the complex.
We do have a small area of "stuff" stored at my Mom's back in the US, but it's not a lot. I'm very happy that we were able to downsize the way we did. Only a few things have been missed -- mostly recreational gear that we weren't able to keep, like our kayaks, and a couple of extra bikes!
Emily
2011 Jamis Dakar XC "Toto" - Selle Italia Ldy Gel Flow
2007 Trek Pilot 5.0 WSD "Gloria" - Selle Italia Diva Gel Flow
2004 Bike Friday Petite Pocket Crusoe - Selle Italia Diva Gel Flow