Is this the time to score a house? This teen buyer says yes
i.stuff.co.nz/life-style/homed/real-estate/13...
i.stuff.co.nzPosted Mar 10, 2023, 11:13 PM UTC
066
i.stuff.co.nzworking up to 100 hours a week to pay off the mortgage
Honestly, this glorification of people working themselves to death just to buy a house is ridiculous.
72
[deleted]
1
Adult works 100 hours a week, whilst living at home, with minimal expenses (and still less then 15% deposit)
Good on the lad, but what a fucked state of affairs.
60
Spending the prime of your life working instead of making memories with your mates. Is it worth it?
12
Fuck no.
No one is lying on their death bed wishing they had spent more time working.
12
Exactly. Good on him, hope he realises how lucky he is. Most can't do such a thing. Or earn that much. My manager son would be spitting tacks at his pay packet.
11
With respect, no luck involved. Fortunate because he works hard.
My secretary made her own lunches, loved clothes but repaired what she had. Her husband was an apprentice and eventually they bought a section and in weekends built their own home.
Their friends said they were lucky without ever thinking this couple had no holidays, time off, or any money.
They were fortunate because they saved and worked hard. No luck at all.
-5†
Luck and hard work aren’t mutually exclusive - you’re quite naive if you don’t consider a young adult lucky when they are able to be accommodated and fed at home free of charge while working and building their savings until they’re able to purchase a home of their own. Just saying mate
8
Luck and privilege comes in many forms. A good upbringing where you learn the merits of hard work for one. Being white - sadly, because of the inequities in society - is another. Being educated, and so on..
Living and eating with parents free of charge is an enormous privilege.
Some people need to financially look after their parents, while others’ parents are drug addicts. Being free of these kind of burdens is an enormous privilege.
Hard work is often an essential ingredient for success. But you’re naive if you think luck isn’t essential too. It’s also naive to think being lucky somehow diminishes the credit one gets for working hard.
6
“Privilege isn’t the presence of perks and benefits. It’s the absence of obstacles and barriers. That’s a lot harder to notice. If you have a hard time recognizing your privileges, focus on what you don’t have to go through. Let that fuel your empathy and action.”
2
Who the hell downvoted you!?
-2
"secretary didn't buy avocado on toast, instead made their own lunches therefore could afford a house"
Cannot possibly figure out why the boomer was downvoted
1
100hrs a week is 14hr days, 7 days a week. What a life.
31
[removed]
1
There it is “I guess I was lucky, because I was still living at home, not having to pay a lot towards rent, coming home to dinner, not out flatting, not partying, just focused on savings.”
28
And still with all that had to work ridiculous hours, that’s how fucked it is
4
When I'm considering whether to make a major life decision involving a thirty year financial commitment, the first people I always consult are teenage boys, who are of course renowned for their intellect and insight.
24
Depends on the person. When I was a teenage boy at 18, I knew owning a house would be hard. So I made sacrifices and worked some long hours to save up for a house deposit. Took a few years but I had my own house in Auckland at 27.
Now at 31 I’ve since moved on from that first house.
You either know what you want to accomplish or you don’t, it’s not a hard decision. The only hard part is sticking it out until you get what you want.
-10
Only had to work 100 hours a week!
22
All you have to do is 2.5 standard hard working jobs and have near zero expenses.
One easy trick..
21
lol. Give it up stuff. You can't manipulate the market.
19
[deleted]
1
Good for him....but let's see an article in a years time of how he's coping while also paying insurance, rates, utilities and not having everything else done for him....or will he still be at home and be a landlord?
18
He will already have tenants in there and will still be living at home. He will be fine.
Some other poor souls will pay his mortgage for him
Edit: I see he withdrew his kiwisaver. So must be living in it.
2
.."Thomas paid $650,000 for his weatherboard Melville home, rustling up a little short of $100,000 as a deposit"
Rustling is an odd word choice, didnt they mean 'saving'?
13
Probably code for "got from his parents"
26
..100%
9
There are 168 hours in a week. Presumably our boy sleeps, so at 8 hours a night, that is 56 hours. Leaving 12 hours. Presumably he commutes to work and has to get ready for work, has to shower, eat etc etc.
In sum, I call bullshit on the 100 hours a week claim.
13
I'm guessing the dairy farm is his parents, he just walks out the door and is on the clock. Mum probably makes his meals etc.
10
I can see the 100 hours a week being true during calving, but that's about it.
2
Either way, he claims he did it to save for a deposit. I’d put money on him putting tenants in there to pay most/all his mortgage. If his expenses continue to stay low, he will be ok (and won’t need to do such long hours).
Edit: I see it says he relied on kiwisaver, which I understand means he cannot rent it out.
1
I had a job in a market garden doing 80, 90, sometimes even 100 hours a week. It was my summer job for uni so I'd get as little loan as possible. It's doable. Not sustainable however.
I didn't sleep 8 hours a day as I'm a night owl & have always been able to function on less sleep (that's probably not good for me though). Even now in my 40's I still don't always get 8 hours a day (it catches up with me quicker though).
If you're wondering on the hours
Mon-Fri: 6am-10pm. 16hrs x 5 days = 80hours
Sat: 8am-8pm. 12hrs
Sun: 10am-6pm. 8hrs.
It wasn't always exactly that but it gives you an idea of how it can be done.
3
A great example of how absolutely rooted it is for the average person. I had a mate do similar at the peak. Working 3 jobs, all waking hours spent working all week. Just able to get a deposit together and get a house
Like congrats dude, but that is not and should not be what is required to own a place to live in this world. You have no world if you're working every waking moment of it
8
“I guess I was lucky, because I was still living at home, not having to pay a lot towards rent, coming home to dinner, not out flatting, not partying, just focused on savings.”
Ah yeah, cool. Cool cool cool. Totally an inspirational story that is available to each and every young person and anyone not doing this is just a slacker who's bad and sucks.
7
Dude will likely have serious health issues by 30 if he keeps working those hours. It happened to me in my mid 30s after more than a decade of working big hours with no holidays
6
He's not actually working those hours. Sure in summer he'd be milking morning and night, but he's working on the parents farm so it would be pretty casual
7
One of my best mates died of cancer last year, late 30s. He'd been and travelled the world, explored his hobbies, made heaps of friends, and tonnes of memories.
Imagine being in that situation and all you've got to look back on is working day in day out...
3
Congrats buddy, but please stop doing the 100 hours now. It's not sustainable
4
[deleted]
2
The smart thing would now be dial back the hours and start getting some people to rent out other rooms.
Otherwise yeah, shit's a bit fucked.
4
He probably wont even live there,nicer at mums and dads but will pick up his mail from there now and then.
3
I’d put money this is what he is doing. It’s the kiwi way, have someone else work to pay your mortgage.
Edit: it says kiwisaver withdrawal. He must be living in it.
1
So he works 14 hour shifts 7 days a week, lives with mum and dad for free all inclusive of food etc. - and even then could only make less than 15% of his deposit on a small home in one of the least desirable parts of Hamilton? That shouldn’t be aspirational that should stand as a a scathing indictment of how horribly fucked our economy is - happy for this guy but this kind of journalism just serves to gaslight people that are finding it impossible to buy a home into thinking it’s their fault for not working 100 hr weeks and not living with mum and dad
3
but this kind of journalism just serves to gaslight people that are finding it impossible to buy a home into thinking it’s their fault
It's not just that, it's provides a justification for others to ignore issues with our economy:
I brought a house when I was working in a basic manual labour job, and the wife was home with the two kids and not working. Kids these days are just lazy, no work ethic, addicted to avocados, look at this young lad, etc."
2
Somebody working 100hrs a week, not paying rent and not eating outside can afford a house is not news to me. It would have been if he couldn’t afford to buy one.
2
[deleted]
1
So earns 2500 a week doing 100hrs and lives at home, so basically with that amount of hours mum and dad must do all his cooking/washing/ housework not exactly an aspirational story just an indicator of how fucked things are if that’s what you have to do for a house in one of the worse areas of Hamilton
I think we all know whose diary farm he is an operator on. Come on stuff.co.nz say the quiet part out loud. He got his job, and the ability to save all his income from his ______ and ______.
OOh I know this one, was it his hard work and dedication?
^^^^/s
avocados and bootstraps