I don’t know if anyone has brought it up yet, but lifestyle needs to be considered too. H and I bought our first house when we were 24. Every spare penny and most of our free time went to the house. Our life revolved around work (both had stressful jobs) and the house. NO travel, recreation, eating out, etc… NO buying new clothes.
We sold the house 3 years later (moved out of state) and lost money because the market dropped in that city.
I am not eager for either of my kids to rush into buying a house.