If your home is a little too large for your needs, you may not need to think about downsizing just yet. Instead, you just need to find a good use for that extra space.

Perhaps you bought a home with one bedroom too many or some other extra space that's gone unused; after all, many properties have a catch-all "bonus room" which can be used for whatever the homeowner desires. Some life events will also open up more space in your home, such as children growing up and moving out.

Before finding a use for a spare room, you should determine whether it could benefit from some minor renovations. Kate Burt, writing for the home design site Houzz, says you can make a small space look larger using mirrors or a white paint job to enhance the effect of natural light.

If you'd like to do a larger upgrade to the space, consider how it might affect the properties of the home. It might not be the wisest decision to convert a bedroom into a spa-like bathroom or a man cave with a wet bar, since this work will reduce the number of bedrooms in the home and may not appeal to buyers in the future. Christin Camacho, writing for the real estate site Redfin, says you should be prepared to bring a converted bedroom back to its original purpose when staging a home for sale.

However, the possibilities for using a spare room are pretty much limitless. The space can support one of your personal hobbies, give you a quiet space to work, or provide a comforting getaway within your own home.

If you still have young children in the home, you may want to cede the space to them. Jae Curtis, writing for the interior design site Freshome, says you might outfit the room with comfortable chairs and a workspace to make it a distraction-free place for kids to do their homework. Lindsey Mather, writing for Architectural Digest, says even small bonus room can be converted into a children's playroom.

The simplest way to use an extra bedroom is to convert it into a guest room. Sharon Greenthal, writing for the home design site The Spruce, says this space should be simple and inviting. If your adult children now have kids of their own, you can add a crib and other features to help welcome them on visits.

An office space not only gives you an area to take care of bills or other household essentials, but may be a place where you can put in a few hours of work from the comfort of your own home. Curtis says the space should ideally have a desk and adequate lighting, and be separate from noisier parts of the home to avoid distractions.

If the room is closer to the kitchen, you might set it aside as a good place to enjoy your morning meal. Mather says a small table, a couple of chairs, and some added décor can transform some diminutive square footage into a breakfast nook. Charmean Neithart, also writing for Houzz, says java-lovers can even set aside their own coffee station with items such as a grinder and mini fridge.

Avid readers can add temporary or built-in shelving to make a home library. This space should also include comfortable seating for you to kick back with a good book.

Motivating yourself to go to the gym can be a difficult task, but having some exercise equipment in your home can make it much simpler. Greenthal says the simplest home gym can simply include a treadmill and a TV; you can also craft the space to fit your own exercise routines, such as putting in weight machines or a yoga studio.

An extra room can also be a good place to focus on a hobby. These might include meditation, sewing or another craft, or an art studio. Neithart says spare rooms can also be used as a space to play music or, if it has easy access to the outdoors, focus on preparing potting plants and other gardening activities. Camacho says many collectors also decide to showcase their items in an extra room if one is available.

While game rooms and home theaters can sometimes be costly, a room can be converted to these purposes without too much expense. Curtis says a home theater may be as simple as installing a projection screen and some nice seating. A game room could be completely outfitted with items such as a pool table or dartboard, or you might limit it to some video game systems and a good table for board games.