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Converting your garage into a studio or apartment is often less expensive than other home addition. Garage conversions for studios are great for music lovers and that up-and-coming house band. Garages are typically not insulated very well if at all so you should use the excuse to upgrade that to also include adding sound deadening insulation, especially if your garage is close to your neighbor's bedrooms.

You may want to convert your garage into additional living space for the elderly parent or teen who want more space. In this case you will need to factor in heating and upgraded ventilation along with plumbing.

Often overlooked when planning a conversion is the elevation difference between garage and house. If there is more than a foot drop into your garage you should have a platform floor laid over the concrete to create a smooth transition between the two elevations.