5. FIX IT?

Lenders are continuing to drop their rates so there are plenty of good deals to be had on both fixed and variable rate loans.

The lowest rate on a $300,000 30-year home loan for both fixed and variable is 3.89 per cent and the monthly repayments are $1413.

So shop around for a better deal, but make sure you contact your lender first to see if you can get a better offer from them, as it will be much easier and sometimes cheaper than refinancing.