$70k should be plenty to get you into a nice place with a solid down payment and some cushion for the first bit of mortgage payments (depending on how much you decide to put down).
As a person who started owning in his early twenties, I would honestly advise against it unless you are really set on being locked to the city you're in for at least 5 years. It's stressful (particularly if you're renting out parts of it) and it basically becomes the savings you have, which is nice if you can offload it for a good profit after a few years, but it's obviously not very liquid. If you're wanting to do the types of holidays and activities as you're friends who are just renting rooms for $500-$800/mnth, you may not be able to (without knowing your job situation or career path).
My advice, if you've been working/in school, take a couple grand and go on an awesome trip somewhere(s) before you get to the real grind. If you're thinking you may want to live in different places in your youth (even within the city - beltline, downtown, outskirts, etc..), it may be best just to rent for say the first year and see what you like. I know a lot of people who locked themselves into something in Copperfield or the like and regretted it almost immediately.
In short, don't be in a hurry to grow up in regards to home ownership, it's very much a Calgary ideal. Not that it's a bad thing, but the whole "own a house asap!" thing doesn't seem as prevalent in other places.
__________________
|