Depends what level of accuracy you want. I just started in a computational chemistry lab so I'll probably get some details wrong, but for small systems, you can use a method called CCSD(T) for up to ~20 atoms, but it scales O(N^7). I've been mainly using DFT for the systems I've been simulating, which scales O(N^3). I've been running a system with about 50 atoms with a decent basis set (how the orbitals are modelled), and it takes about 30 minutes for each optimization step with 24 cores and 48 GB of RAM.

DFT works in many cases, but in some cases it doesn't estimate the energy right, due to how it bypasses some correlation calculations. Bonds are extremely sensitive to energy calculations, so you need to get super close to the actual energy in order to get useful results.

Anyways, someone with more experience here could probably add more, but that's what I've picked up so far.