Basement into a Bedroom & A backyard into a parking space- NJ

[Beshoy Awad]

Good morning BP community!

I am in the process of closing on my first house hack in New Brunswick, NJ. As I learned from all the podcasts, I am trying to find ways I can increase the value of the property.

The first thing I noticed is that the house has a decent sized backyard that could be converted into at least one parking space. I was wondering if anyone has experience doing this specifically in New Brunswick as I know they value their curb space. Also, one of the units is currently zoned for 1 bedroom. However, it has a basement that can be converted into a second bedroom (the basement has a door that leads to the utility room which has the water heaters, panels and the door to the backyard. What is the process like to formally have that unit as a 2-bedroom unit? Is there special requirements for a bedroom?

Thanks guys!