Moving in with your romantic partner can save you thousands a year. It’s no wonder a growing number of young people are embracing that option: 80% of Gen Z and 76% of Millennials named money/logistics as a factor for taking the plunge, according to a recent survey.

“It seems reasonable to me that couples would want to live together in this economy with the rising cost of living and an epidemic of loneliness, but if saving money is the primary motivation for living together, I think there are some considerations to be examined first before couples take that step,” says co-parent and relationship coach Lee-Michael Pronko.

For example, 42% of respondents in the survey above ended up regretting their decision to move in. Why? Some reasons include breaking up, realizing they weren’t compatible for co-living, or rushing the decision.

If you’re tempted to move in with your partner for financial reasons, here are a few things to consider to make an informed decision.

The hidden costs of moving in together to save money

There are potential hidden long-term costs behind the decision to cohabitate – and you should think about them before jumping the gun to keep on living expenses. First, as Pronko puts it, moving in together primarily for financial reasons “might overshadow the emotional and relational readiness of the couple.”

Pronko adds that “financial co-dependence can emerge, making it difficult for one or both partners to leave the relationship if it turns sour, due to the perceived and actual economic burden of living independently.”

In other words, moving in together solely for financial reasons can strain your relationship or even make you feel trapped. In the event of a separation, you may face additional complications as you split things up and iron out your new living situation.

The other benefits of moving in together

On the flip side, there are benefits to moving in together beyond increased financial stability.

“Navinavigating the challenges and responsibilities of cohabitation can strengthen the relationship, fostering deeper communication, understanding and teamwork,” according to Pronko.

Sharing space and sharing finances both require a whole new level of communication. As you figure things out and have transparent discussions, you may use a different word or not use it. Find yourself growing even closer.

Things to consider before moving into saving money

So, if the choice to cohabitate can end up working out better than you imagined or leave you with regret, how do you know if it’s the right move for you?

First, consider whether you’re financially independent and responsible on an individual level, recommends Pronko, who notes that this is less about the amount of money each person earns than their relationship with money.

For instance, if one person is focused on furnishing and elevating their living space while the other prioritizes spending on experiences and travel, it might reveal a clash in financial priorities and values. This can foreshadow the issues they’ll face when they live together.

Additionally, consider whether you feel pressured to move in, which is another red flag. “Moving in together should also not feel like it’s coming from a place of stress or haste, or the focus is not only satisfying the practical matters of, say, cutting back expenses for one partner. This could create an advantage for one partner over the other financially,” says Pronko.

If you feel that both of you are striving to achieve a balance in terms of the value gained by living together, it’s a good sign. “If you are to move in with your partner, you could ask yourself, is there a large disparity between what I’m able to save financially versus what they can save?” notes Pronko.

Bottom line

For the best chances of success, foster financial transparency before moving in together. Talk about what your shared vision would look like and discuss your values and views about money.

Also, ensure you’ve met each other’s friends and family. What does this have to do with money? “It shows the importance of social bonds and having support systems so that if/when things do go south in life, they don’t rely solely on their partner for support,” says Pronko.

Once you’ve considered all the factors above, the only way to find out is to do it. “Sometimes, you need just to do it and live through experience to learn what works and what doesn’t,” adds Pronko.

At least you’ll have made a more informed decision.