It is. I took about 18 months off a few years ago. It was great until I ran out of money.
My main motivator was a very big project (converting a bus to live in) that took a lot of time but after that was done I still did lots of other projects, played video games, and traveled.
In some ways I missed contributing my skills to a team but, other than needing money, I wasn't strongly motivated to go back to work.