Whether your adult children have left the nest or you recently decided to "upsize" to a larger house, you're now faced with the minor "problem" of what to do with that extra space.

While some homeowners just use it for storage or guest bedrooms, there are plenty of other possibilities that are well worth considering.

Exercise room: In spite of the many proven benefits of regular exercise -- ranging from increased strength and endurance to weight control and slowing down the aging process, many people have trouble getting started and staying motivated. It's a lot easier to come up with a laundry list of excuses than join a gym and stick with an exercise program. It's surprising how many people actually join a health club, but then stop going after the novelty (and their enthusiasm) wears off.

However, when you create a dedicated fitness space at home, most of your former excuses no longer hold water! With a home gym or exercise room, you not only have convenience, privacy, and 24/7 availability, but there are no parking issues, traffic problems, membership fees, or noisy weightlifters. If you prefer a regimen that's less vigorous, there's always the option to use the room for yoga, tai chi, and meditation.

Home office: With more homeowners telecommuting, consulting, freelancing, blogging, and starting ecommerce stores, it makes sense to set aside a dedicated space in your home for business and career development. A home office is also a quieter place to go for other tasks, such as paying bills, applying for jobs, social networking, catching up on your email correspondence, or planning your next vacation.

Home library: If you or any of your family are avid readers, a room with lots of built-in shelving, comfortable furniture, and adjustable lighting would be the perfect place to curl up with a good book and a hot cup of tea. Not only would a home library be the ideal environment for reading, studying, or doing research, but it might even encourage your children to cultivate more of an appreciation for reading and learning.

Craft room: Whether there are artists, embroiderers, or jewelry makers in your household, a special room for artistic endeavors lends itself to creativity, while helping to keep craft supplies and projects confined to one area of the house! A craft room can also be ideal for storing gift-wrapping supplies and holiday cards.

Music room: If your family is musically inclined, a separate room for practicing instruments is beneficial to both budding musicians and those who want to watch TV, do homework, or have quiet conversations elsewhere in the house. A dedicated music room can also be a good spot for making music videos, recording music, and having jam sessions.

As you can imagine, extra space in your house gives you and your family the opportunity for more physical, intellectual, and creative development. Designating a spare room, a finished basement, or an attic area for artistic expression or personal development may even encourage others in your family to discover and cultivate their hidden and emerging talents!