I would convert it into a master bedroom/bath and a mudroom/laundry room. It would be a nice layout and wouldn't look forced. Would this reduce or increase my property value? I live in the mid-west and have a 4 car driveway.
Be certain your local building department allows this modification. You still need permanent vehicle parking. Car port? Will you be moving the furnace and water heater. All of these considerations drive up the cost and repairs must be done to 2009 building code (AFCI circuits, sheer walls, dual glazed windows, GFCI devices, insulation, etc.).
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