You could install a webserver like Apache and host your own website on it. You could host a Team Speak server or something else.
The benefits are that you have a lot of space you can use to store files you want to share. Hosting packages with 10GB of space are quite expensive.
However, if you are only using it for a small website, and hardly use any of the space, it would be cheaper to buy hosting. Your power bill will cost more.
TheMajorMMX - Intel P200 MMX @ 225Mhz - V-Tech (PcPartner) Baby-AT mb w/ Intel Triton TX chipset - Nvidia Riva TNT2 M64 w/ 16MB - 256MB M-Tec SDRAM - Still running.....