A full-scale apartment or guest house will take you to the top of your budget and beyond at an average between $15,000 to $30,000. You'll need to make all the upgrades mentioned for a family room, along with a separate bath and kitchen. You'll need to run a gas line or a 220 outlet for the stove. You'll also want a private entrance for your apartment, which usually entails adding a fire door.
Flooring: Concrete slabs are cold, hard, and not very pretty to the eyes. Even if you’re on a tight budget, installing new floors during your garage conversion could be worth your while in terms of comfort and aesthetics. Vinyl flooring is one of the more cost-effective options and is available in many different designs made to look like wood, tile, or natural stone. If the space is framed in and moisture isn’t a concern, carpet is also a viable option for softer flooring as long as insulation occurs beforehand.
Paint manufacturers have recognized these problems and have come to the rescue with new solutions. But a word of advice: If your garage floor sees heavy water leakage, if it's badly cracked or if it's damp and slimy all summer, don't apply any coating. In those cases, you're better off simply keeping it as clean as you can and then calling it quits.
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