In my opinion: physical aspect only- if its safe (you don't get an STD or pregnant) its ok. Emotionally though, it depends purely on the individual. many may regret it, many may enjoy it. It may have affects on peoples personal development/life journey in positive or negative ways. Each to their own I think. Personally, if I could take it back I would, as I lost some self respect through it, and my relationships would have been much different/potentially nonexistent if it wasn't a part of it. The nonexistent would have been fine with me, if it was based on sex. Sex has never been very important to me, and I prefer the brain connection.
I don't think you should wait, but you should be very selective of who you share yourself with; men and women both use people and s3x is always something they use. When you meet the right person, you'll have to just trust your heart (and use your head and protect yourself).