My Dad put the down payment on my house (was then able to do 5% and it amounted to about 12k), I was 21 at the time and going to school. He also helped me here and there when I needed it.
My suggestion, if your kid is going to school, the stress of running a house, finding/dealing with roommates, fixing things, etc.. is a lot for someone who's going through the post-secondary grind. And unless you really think your kid can hanlde it I would recommend putting it off. in the long run it is good and saved me money, but in the short run, man was it hard to keep track of all the things I needed to while trying to finish school on top of other commitments. Make sure you go through it very thoroughly with the kid first. But you're the MoneyGuy So I'm sure you're good with stuff like that haha.
EDIT: I will say in reference to btimbit's story. Make sure it's with the intention of having roommates pay to live there. I got a place for 3 people (including myself) and my renteres income was my largest portion of income while I was in school. Just buying it outright and letting them live there alone I would say would be detrimental to the child.
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