How To Afford Your First Home: Getting an Easy Second Job

Housing is super expensive. “How do I afford a house?” seems to be a common question that most millennials ask themselves on a daily basis. But more and more, basic starter homes, that were at one time designed to accommodate the first time home buyer are steadily becoming out of reach for the average 20 something couple. Also not to mention that wages are not rising as much as they did previous generations. Simply put, in 2019, buying a house sucks but modern problems require modern solutions and unfortunately for us young adults, that means having to supplement our income with a second job.

Now you may just decide that home ownership isn’t for you, that you would rather just rent. And while you’re more than free to do that, keep in mind that rent always has a -100% return on your rent payments. (https://myfinancialsensei.com/2019/12/01/why-buying-a-home-is-better-than-renting/) Anyways, if you still want to buy a house and one job just isn’t bringing home the bacon, you’ll need a second job (a side gig essentially, not a second office job). However like your first job, this should be one that is both enjoyable (or at least not miserable), and easy to perform. In this post I aim to give you some ideas of second jobs or “side gigs” you can do in your free time (instead of watching Netflix) in order to afford the house of your moderately believable dreams.

Delivering Pizzas: Probably one of the most tried and tested methods to get extra income is delivering things, and the most cliche of these is delivering pizzas door to door. However it’s cliche for a reason, it actually generates cash. In 2019 the average pizza delivery person made $10 an hour on average and this doesn’t include tips which, I don’t know about you but I always end up throwing a couple of bucks the delivery guys way. Not to mention that all the driver has to do is to drive around town and drop off pizzas, which should be easy enough.

Ride Sharing/Uber: Ah yes, Uber, and Lyft. If you haven’t been living under a rock for the past few years then you surely have seen cars roam around your downtown with stickers of these two ride sharing companies on the back windows. This job is similar to the pizza delivery gig with the added “thrill” of having to deal with drunk people sitting behind you. Personally I would choose the pizza delivery gig but the earnings potential here could be much higher. Not to mention the fact that you are essentially your own boss, working whenever you feel like it, but to be fair not many people are looking for Uber’s at 2pm on a Wednesday.

Security Guard: This is also another good option for the fact that most of the time security guards can just kick back and take it easy while making money. Pretty much passive income as far as I am concerned. Also the pay is not too bad, the average security pay is $11.78 per hour. Over the course of a year this would amount to over $18,000 (assuming that this is a 30 hour a week job). That is some nice change and could be saved up for a nice health down payment on a house.

In conclusion affording a house can be tough. However it’s not impossible, and it could be pretty achievable with a side hustle (or really a second job) that get you over the hump and save a down payment to put on a house. In my opinion assets prices really shouldn’t warrant the average person to have to get a second job just to avoid paying rent, i.e. paying someone else’s mortgage, but unfortunately for us this isn’t the case. The housing market might slow down somewhat but ’08 style price drops are not guaranteed and every little bit of money helps in getting a down payment together.

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