I can't see why not, provided it's allowed by code. I do wonder, however, how much you will actually save. I would think lumber is pretty cheap these days, in terms of material costs, or is it labour you're concerned with? Anyway, I can't see why it's not doable but converting it will be a fair bit of work since you'll be doing a lot of fiddly infilling especially where the overhead door is concerned. Another factor will be the electric, you need to make provision for it - running the service cable in or something at the very least, and that may complicate it a bit more.

I don't think you'll be able to save anything of the existing carport, other than the exterior wall of the actual house [and even that may need re-inforcement]. You may be able to extended the existing slab, but given that it looks like its a ways above ground at back and has a substantial crack visible at the front, it may well be ruled inadequete to support a 2 story structure. I'd contact a structural engineer. This kind of remodel can be far more complex than new construction, where you at least have pretty clear standards about what's acceptible and don't have to guess about the thickness of the slab or quality of the concrete.

is there an easy or less expensive way to level my sloping concrete slab to convert my carport to a enclosed garage. my slab is in great condition but if we put in a garage door on it there will be a 5 inch gap n one side. it was built like this in the 50's to allow water to drain out. Our contractor wants to charge us $15K just to dig up the old concrete, re-pour and level. That's before we even start enclosing the structure. This seems exorbitant to me just because our garage door will have large gap. I'm not sure why we need to did up the bulk of the carport floor. we know we will have o ut in a trench drain outside the entrance to the carport to keep water form getting and regrade. Help!!!!!

In general the extra living space adds more value. But only you can decide if losing living space is worth it to you. You can be sure not to leave valuables in your car overnight, including registration papers and insurance papers.