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    Real Estate
    Wednesday, May 08, 2024

    Survey: Most consider moving for love to be worth the risk

    After a couple has been dating for some time, one partner is bound to float the idea of moving in together. Cohabitation can not only help to strengthen the relationship, but also save a considerable amount of money on housing costs.

    Yet the decision can also be a daunting one. A partner may be worried about giving up their independence, more frequent conflicts, or possibly moving to an entirely new community.

    A recent survey of 1,000 people by the moving resource Hire A Helper found that nearly one in four people changed residences due to a romantic relationship. While respondents said there were certain challenges to the process and that the relationship didn't always work out, a majority said they were happy they took the plunge.

    Twenty-four percent said they had relocated for a romantic partner. This trend was more common among millennials, with 31 percent moving due to a relationship; just 12 percent of baby boomers said they had done so. Men were slightly more likely to move for love, with 27 percent saying they had done so; 23 percent of women had also moved for a relationship.

    Seventy-three percent of those who moved for their partner said the relationship had endured for more than a year. Thirty-eight percent said they were still in the same relationship, while 25 percent said they were with the partner for one to five years and 10 percent said the relationship lasted for five years or longer. Ten percent said they broke up with their partner less than three months after moving, while 9 percent said the dissolution occurred within three to six months and 8 percent said the relationship only lasted another six months to a year.

    About two-thirds of the respondents said they were glad they had moved for a relationship, including 46 percent who said they were very happy with their decision. Nineteen percent said they were neutral about the choice, while 15 percent regretted it.

    Seventy-four percent of people who were still together after moving said they were very glad that they relocated. Even among those who stayed together less than six months after the move, more than half—51 percent—said they were glad they moved.

    Thirty-two percent said making the decision whether to move was the toughest part of relocating for love. Men were more likely than women to have a tough time with this decision, with 38 percent saying this was the most difficult part of the move; 28 percent of women felt the same.

    Other common challenges were adjusting to a new area (31 percent), leaving their old life behind (30 percent), managing a long-distance relationship (28 percent), or the moving process itself (27 percent).

    Sixty-eight percent said they would be open to moving for a romantic relationship after six months, while 20 percent said they would be willing to do it more quickly. Twelve percent said they wouldn't want to move for a relationship.

    Forty-six percent said they would only want to move within the same city or state for a romantic partner. Forty-four percent said they would be willing to move farther, including 15 percent who said they would be open to moving across the country.

    Couples looking to move in together should weigh a number of considerations to make sure the transition goes smoothly. Laura Mueller, writing for Moving.com, says these include how expenses and responsibilities will be shared, how well the couple handles conflict, and whether they expect to stay together long-term.

    You should be especially cautious if you're looking to buy a home rather than rent before getting married. Beth Buczynski, writing for the financial site NerdWallet, says you should draw up a written agreement outlining how you will pay for the mortgage, home repairs, and other expenses.

    Unmarried couples will also need to choose how they will take title to the property. If one partner has a significantly higher income or credit rating, they may want to take sole ownership. Of course, the other partner risks losing their stake in the property if the relationship ends, even if they have been contributing to the home's upkeep.

    A joint tenancy with right of survivorship gives each partner an equal stake in the property, with one partner's share transferring to the other in the event of their death. This type of title can still create problems during a breakup, however, since one partner may be unable or unwilling to buy out the other.

    Partners can take on different shares in the property with a tenants in common title. Each partner can also use a will or living trust to leave their stake in the property to the other partner or a beneficiary of their choosing in case of their death.

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