Is your property usable by someone else, for something else, that it is better suited for?

For most people no, not in a meaningful way. Socialists call property that is really only valuable to an individual personal property, whereas right now it's all just property, and no matter what it can be privately owned.

Lots of people willingly give up property to a collective. Money is your property, and donating to charity is just that. Church collections basket? Collective. People willingly part ways with property for the collective all the time. People even more often contribute to what is a perceived collective but is an individual.