I took three months out when I was made redundant and used the time to wire/rewire the house, complete the main bathroom, etc, etc all related to extension refurbishment project. I got a break from the office routine, got a lot of usefull work done and if the sun was out no deliveries/tradesmen due I could just go out for a ride if I felt like it.
If I didn't have so much to do at home maybe I'd have just packed the car and gone to Europe for a couple of months and tried hard to make it further than Amsterdam.
It was great to have the freedom but if you are the type to worry about being out of work, have commitments etc it may not be so good.
Adrian