Duplex, Condo or Rent?

[Brian Howse]

Hello BP community, looking for advice on this topic!

          -  Context: "Girlfriend (23) of 3+ years is moving here in CLT- February 2025. Me (23 years old) been living here for 9 months now. Planning to be living together in CLT for at the least 2+ years, after this- up in the air on staying or moving. Both working okay/fine paying jobs, both worked through school so no student debt, driving old cars so no car payments."

            - Situation: I am looking for advice on what is my best route is come February- renting, buying a condo, or buy a duplex (living in one side renting out the other).

                        - Renting: pro's- not 100% certain CLT is forever, makes easy to relocate. We are young, like being in the city and being close to everything. Con's- feel like I am wasting money. CLT renting prices are expensive, why not pay a little more monthly owning property that will appreciate in value.                     

                      - Condo- pro's- own something that will appreciate, can still be in the city, can rent out if we move- passive income. Con's- more expensive monthly, locking us down to CLT/ condo building for what I am guessing at least 5 years to at least make it worth it. not as much revenue/wealth building opportunity as duplex.
                      - Duplex- pro's- renter's rent money will pay for half of mortgage, after that is paid off, move to a house, have passive income x2, most living space. con's- biggest down payment, outside the city, risk of terrible renter, locking us down for at least 7-10+ years to at least make it worth it.

Overall, I hate wasting money. What I am trying to avoid: renting for 2 years to eventually end up getting a condo/duplex later on or the flip side investing so much into a condo/duplex, and just overall not having it make sense with this situation. I know there are a lot of variables/ "what-if's" but any advice is helpful!

Thank you!