Custom hotkeys for Overlays

I would like a way to do the following from a custom hotkey of my own choice:

Show/hide Grid. Show/hide Wireframe (on shaded).

This should be very easy with some Python knowledge. Started looking into how to do this myself. But why isn't this already a feature? Have I missed it? It's a very common thing to have in Maya, C4D, Zbrush, etc. Why not in Blender?