Convert garage to living room + kitchen

[Vu Nguyen]

Hello BP family, I'm in the process of closing my house in NE Tacoma, WA. The house has 2bd+1bth on the upper level, and 2bd+.75bth on the lower level. We're planning to convert the 2 cars garages into a living room and wet-bar/kitchen so we can rent out the lower as a separate unit while we're living on the upper level ( me, my wife and a 3 y.o daughter).

This is my first time doing house hacking/remodeling, so I'm looking for feedback, suggestions, and recommendation for contractors/handymen. Is there anything I should watch out for? Do you think by converting garage to living space will increase or decrease the resell value of my house?

Thanks so much for being the most kind and welcoming community on the internet.