The days of showing off your wealth by building a great big McMansion for your family of three are definitely gone. While being a seller in the market today is tough, it seems that more and more people are selling their too-big-to-handle homes and downsizing to a home that makes a little more sense for their family. In fact, according to the U.S. Census Bureau, the average home shrunk by 300 square feet last year. The focus for these people is to make smart use of space instead of just adding more. Downsizing, or "rightsizing" as many are calling it, creates major savings on heating and cooling bills and many families say that it allows for more family face-time as well (I suppose because those teens no longer have their own wing to skulk off to in lieu of the family dinner).

If you're thinking of losing the wasted space and downsizing, here are some things to consider that will help you make the most of your space...

Looking for a smaller space to live in? Looking to lower your carbon footprint?

How about a smaller home? A new book - "Tiny Houses" - by Mimi Zeiger takes a look at homes that are 1,000 square feet or smaller.