US couples are moving in together to save money, but nearly half later regret it
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About two-thirds of people who have moved in with their romantic partner say finances and logistics contributed to their decision.
PHOTO ILLUSTRATION: PEXELS
WASHINGTON – The financial benefits of cohabitation are playing a role in how people are living in the US.
About two-thirds of people who have moved in with their romantic partner say finances and logistics contributed to their decision, and the share is even higher for younger couples.
And while the decision can help one’s pocketbook, four in 10 of those that moved with a romantic partner later regretted the decision, according to a survey of more than 3,000 consumers conducted by HarrisX, a polling firm for Realtor.com.
“The idea of splitting the rent or mortgage can be very attractive,” said Ms Clare Trapasso from Realtor.com. “It can also magnify potential issues in a relationship.”
Improving their financial situation or logistics, such as being closer to work, helped drive at least three quarters of the decisions for younger respondents, while older adults were a bit more cautious to move in with a romantic partner. Those reasons drove 56 per cent of Gen X and 44 per cent of Baby Boomers’ decisions.
About one quarter of those that did move in together say they were able to save more than US$1,000 (S$1,300) per month.
The Realtor.com survey was conducted from Feb 1 to 4, 2023 and the margin of error is 1.8 percentage points. BLOOMBERG
