something along these lines might help,
Dear [Hiring Manager's Name],
I hope this message finds you well. I want to express my sincere appreciation for offering me the [Position] at [Company]. I am honored to have been considered for the role.
After careful consideration, however, I have decided to decline the offer. I have thoroughly enjoyed our conversations and learning more about the company, but after weighing various factors, such as salary and commute, (or exclude this section up to you) I have come to the conclusion that this is not the right fit for me at this time.
I genuinely value the opportunity you provided, and I want to be transparent about my decision. I believe it's essential to make choices that align with both personal and professional goals. I hope you understand my decision.
I am impressed by the team and the company culture at [Company], and I would love to stay connected. I remain enthusiastic about the possibility of working together in the future, should an opportunity arise that is a better match for my current circumstances.
Thank you once again for your understanding and for considering me for the position. I wish [Company] continued success and hope our paths cross again.
Best regards,
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