UltraNoob: Studio monitors or hi fi speakers?

Starting from scratch, I'm going to start acquiring home recording gear. Is it possible to use hi fi speakers for monitors? Vice versa? Upside? Downside?
I used to use a pair of KEF Q15 as recording monitors for several years. They worked OK as near fields. They didn't have anything below 50 hZ though so that will be a consideration.
I had a pair of NHT 3.3s a while back, got them from a guy
in Chicago that used them in his recording studio. (I forgot the label).
upside: they're really good
downside: they're really big.....and heavy.....and akward.
Is it possible to use hi fi speakers for home recording studio monitors?

Upside: Cheap, look nice

Downside: Be careful, as you can blow them up very easily with the dynamics from your recordings and live instruments/microphones. ( remember media sold commercially has dynamics that are carefully controlled and compressed )