First off, congratulations on the baby!
My wife and I are close to the same age as you guys and had/have a similar plan to you. We plan to start having kids in 4 or 5 years when she will quit and stay at home at least until they start school. We make a little bit less than you combined, but are saving ~50%. I have plans to be retired by 45 at the absolute latest, mid 30s at the earliest, probably somewhere in between.
Shortly after getting married we started looking at houses because, "it's just what you do". But finally after looking at a few we were riding around and I finally asked, "wait, why are we buying a house?"
I would recommend you do some research on what it would cost you to buy compared to what you're paying for rent right now. ~1%/yr in maintenance, insurance, higher utilities, temptations to update/addon for higher QOL, property taxes..
If we were to buy we would almost definitely be making a huge upgrade (nice neighborhood, bigger/newer house) and that would mean our retirement plans get pushed back.
It does not always make sense to buy, especially if you don't know that you want to be in the town you're in for 4 or 5 years.
I also think as far as early retirement goes, a mortgage and building equity in a home makes little difference in the retirement date if rent and cost-to-own are similar. A lot of people, MMM included, don't count the principal payment in their expenses, but from what little calculating I've done (especially if you plan to retire well before your mortgage would be paid off) it can slow you down since that money is tied up in your home and not being invested instead.
All that said, I think we will buy a house eventually, but I would recommend you get a better idea of the numbers and decide how important the flexibility of being able to move on short notice is. I also might consider the additional responsibilities being a new home owner entails on top of having a newborn.
I'm not sure any of this is helpful it's mostly the rants of someone who thinks about this stuff way too much. But whatever you decide, good luck and congrats!
Edit: As far as careers go, I am also an Engineer. I only started working about a year and half ago, and had assumed I would stay at the same job at least for 3 or 4 years, but I just recently got a new job making ~10% more with much more potential for growth. Flexibility is important and as others have said, tying yourself down to one place might not be the best idea this early in your careers. Having the freedom to move can mean a huge bump in pay.