My recommendation will vary depending on your marital status, your age, your long term plans.
If you are have recently graduated, have had a job for over a year, have a good credit score (630 and up), and live in a city where the housing market is on the rise, buy a duplex, live in one unit and rent the other one. Always buy cheap and never sell unless you are moving to a different state.
Even if you are currently renting sin a city where it is cheaper to rent than buy, buy a duplex in a city where the housing market is on the rise. Get renters in the units and pay your loan off as fast as you can. In less than 15 years if you can. You may have to live in one of the units for a while to get the loan but that will done the road give you a state income for life.
If you are married or in a serious relationship, buy the cheapest property where you want to live, live on a budget, get a 15 year loan, and never refinance. Put as much down as you can to have a low monthly payment, make an extra payment every year. Before you know it, you will only have the state and federal taxes, and utilities to pay, but no more mortgage on your home. You are a millionaire if you own your house free and clear of any mortgage.
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