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Buying a home in Mill Park

The suburb of Mill Park offers an abundance of handy amenities and tranquil scenery, making for an enviable lifestyle! If you love getting into nature, then Mill Park is for you - there are numerous parks and reserves spread across the suburb, plus easy access to the neighbouring Plenty Gorge Parklands for when you feel like being more adventurous. Whether it’s walking the dog, playing with the kids at a playground, sitting down for a picnic, or keeping fit, you’ll always find a green space to meet your needs in Mill Park. Plus, multiple shopping areas, including the expansive Westfield Plenty Valley, cater to all your retail and dining needs. With schools, transport, and sporting facilities all at your fingertips, and a friendly community feel to top it all off, you won’t want to leave Mill Park once you settle here.

The median house price in 2024 in Mill Park was $780,000, while the median apartment price was $523,750. If you’re interested in buying a home in Mill Park, Kris Petrevski can help you find the perfect home loan.

Fixed vs variable home loans

When you select your home loan, you will generally have the choice between a fixed and variable rate structure. Both types of loans have their benefits and drawbacks, and the best choice will primarily depend on your preferences, as well as some influence from broader economic factors.

Fixed rate loans

With a fixed rate loan, you are guaranteed to have the same repayment amount for the entire fixed period, giving you budget certainty and security in case of rate rises. However, this can also mean you won’t benefit from rate cuts. These loans are generally less flexible and have fewer features.

Variable rate loans

When your interest rate is variable, it is subject to change at any time, whether positively or negatively. While there is a level of uncertainty with this type of loan, you will often have access to more features, like an offset account, which can help you pay off your loan faster.

When you’re deciding on the best home loan, there’s no one better to help guide you than Kris - simply book your appointment with him today to talk about your unique situation.