Right, so you’re staring at your backyard thinking it’s big enough for another house. Maybe you’ve done the math on property prices lately (who hasn’t?) and reckon there’s decent money to be made.

Or perhaps you’ve got kids who’ll never afford their own place unless you help them out.

Before you get too excited though, let me tell you – backyard subdivision isn’t the goldmine that some property spruikers make it out to be. I’ve seen plenty of Perth homeowners dive in headfirst only to discover they’re in way over their heads.