I would absolutely take the time off. In fact, I'm going to - I recently resigned.

I'm looking forward to really relaxing, recharging, healing, living more healthily, and generally getting back to being the better version of myself that I know is in there somewhere. I'm also looking forward to a deliberately empty professional future, and seeing where serendipity takes me. (This is why I'm not taking a sabbatical.)

Like you, I have a relatively low cost of living, and I'm comfortable that even if I can't find something great when I decide to go back to work again, I'll be fairly easily able to find something that's sufficient to cover my expenses.

When you're older and looking back at your life, I think it's unlikely that you'd regret taking this opportunity; but you might regret if you didn't.