Well... here are some listings from my area:
Realtor Search Result
--- townhouse/condo starts around $400K+
Age doesn't matter, if you have the means then buy the house.
The sooner, the better.
If you can't afford that nice house now, then you won't be next year (unless you hit the jackpot) - property price increases faster than average salary, investments, interests, etc.
1. Buy a single property House - detached. Don't get condo/townhouse (HOA = hidden cost, non-tax deduct.)
3bd/2ba w/ 2 car garage = standard/min.
2. Location, location, location (you could always change your house, but never the neighbourhood)
3. It is OKAY to get a house in the most expensive area of the town/country. This only means that the house value WILL appreciate faster than other areas
If you can't afford the 30year mortgage, then get the ARM loan. You can re-fi every time interest rate drops.
I'm not trying to be a smart-a$$ here... just want to share my experience.
I wish somebody would tell me when I was younger