Not really, if characters start to like you, they will sort of ask you out (invite you to a dance etc.), you can decline and it’s over. If you accept you can get a bit of romantic bonus content, but you’re not missing out on anything essential.
This is exactly my issue. I like the party I like the characters but when I declined to get involved with someone they recoiled from me. Possibly this is somewhat realistic but I don’t belive it should be true of every character.
Plus I’ve known these people for a week. Fair enough you want to smash but don’t take it personally when I decline its not like we have a long established relationship.