Costs to Retire in Bosnia

Today, I will share our estimated monthly costs to retire in Bosnia if the two of us were to retire here on a tight budget. I will also share Bosnian healthcare, retirement visas, walkability, safety, and other things retirees are often concerned about.

There are actually three cities in Bosnia I would consider retiring and I will explain what personalities would do better in each city. I will also estimate the cost of living for the capital city Sarajevo and then tell you how much I would save by living in the other two cities, Mostar and Bijeljina.

We are on an exploratory visit looking for the best cheap places to retire in Eastern Europe. We only share places where our feet have been on the ground. We don’t gather data from 10k kilometers away like the other guys.

My YouTube Channel Vagabond Awake has separate playlists for each country with videos we took during our retirement in paradise for pennies research. Bosnia is the 71st country I have lived in since leaving the USA 17 years ago.

After I share Bosnia’s cost of living, I will cover other factors important to your early retirement such as healthcare, food, real estate prices, visas, residency, walkability, weather, Internet speeds, and more.

Estimated Costs to Retire in Bosnia

July 29, 2024: I will share my more expensive Sarajevo costs first and then share what I could save by living in the other two smaller cities, Mostar or Bijeljina. I will label the video we took so you will know what each city looks like.

 

Rents: Today, I found this furnished 2-bedroom apartment for 410 Euros ($444 USD) per month in Sarajevo on a 12-month lease. From this apartment, the #2 Trolley would have you in the best part of the old town in 26 minutes. If you rent for a shorter term on Airbnb it would be much more expensive.

A larger apartment closer to the old town could easily cost twice as much per month. So for the middle range expenses, I estimate $800 USD per month or more depending upon area and size.

Here is the process we use to find great apartments. So, we will show you a table of all estimated expenses in a moment. We will use $444 USD per month for our lower rent estimate and $800 per month for the middle cost of living estimate for expats who want more space.

The costs of Sarajevo are significantly more than our other two favorites, Mostar or Bijeljina which I will discuss in a moment. In general, smaller towns and rural area around the world cost less than capital cities, Sarajevo.

Google Map

Heading south through Eastern Europe, mainly riding bus down through Estonia, Lithuania, Poland, and Croatia before spending time in Bosnia, Mostar first, Sarajevo second, and then Bijeljina, we felt more in touch with the land than if we had flown, plus we saved thousands of dollars in airfare.

Google Map

Utilities: For the above apartment in Sarajevo, we estimate the year-round average utilities for us would be about $100 USD per month. The utilities would cost more for the larger space, starting at around $160 USD per month.

Groceries: We would shop in the farmers market for fresh fruits and vegetables, and purchase nonperishable foods and other things like shampoo and detergents in the grocery stores. We estimate that groceries cost about $280 USD per month. Other expats are likely to spend more on imported groceries they miss from home spending $375 USD per month or more on groceries, since most don’t go to the farmer’s markets.

Restaurants: We would eat out twice per week mostly in more local-style restaurants averaging about $8 to $12 USD per meal per person and one or two splurges per month of $10 to $15 USD per meal per person. If you add all that up, we would spend around $220 per month for the two of us. We may have a beer here and there, but that is covered below in alcohol.

Other expats are likely to eat more Western-style foods in expensive expat-style restaurants and less in local-style restaurants, so they would likely spend more like $300 per month for 2 people in restaurants. It is lifestyle-dependent.

Cell Phone Data: The cheapest prepaid physical SIM cards in Croatia are about $10 USD for 30 days with 7 GB of data. My Android phone will act as a hotspot so we can both be on the internet when we are out of the house together.

Other (retired) expat couples are likely to buy two prepaid SIM cards so they would need about $20 USD per month.

Laundry: The apartments all seemed to have clothes washing machines. The above grocery estimate includes laundry detergent.

Drinking Water: We read online that the water is clean here and many people drink water from the tap but we would be a little more careful. We didn’t see reverse osmosis delivery in 20-liter jugs here so we would probably get a Brita water filter. The filter refills would be about $7 USD per month.

Internet: ATT Test said our Airbnb wifi router had 24 Mbps down and 6 Mbps upload speeds. We read online that these speeds cost about $29 USD per month for in-home wifi.

Public Transportation: Public transportation tickets average about $1.00 USD per person each way. Daily needs would average 2 rides per week or 8 per month, for the two of us which is about 16 rides total per month for the two of us, or $16 USD per month. We didn’t find a reliable taxi app for smartphones in Bosnia. Sadly, we just got phone numbers from taxis driving buy and used the Viber Telephone App to order Taxis by text. We would average about $6 USD per taxi ride and take about 8 per month, or $48 for taxis. So total transportation would be about $64 per month for the two of us.

Other expats might walk less and spend more on taxis and less on public transportation, so I estimate $120 per month for them.

Alcohol (Optional): Domestic beers in grocery stores in Sarajevo start at around $0.85 for the half-litre size which is about 50% larger than the standard-sized beer in the USA. In bars and restaurants, half-liter draft domestic beers run from about $2.50 USD. We estimate about $110 per month on alcohol for the two of us.

Many other expats would spend a higher amount for imported foreign or craft beers in expat bars, so about $230 USD per month for 2 people assuming they are not into imported whiskey or wine.

Entertainment (Optional): We would budget about $200 per month for entertainment for the two of us. We enjoy doing more do-it-yourself kinds of entertainment so expats would spend a little more, maybe $300 per month, for 2 of them?

Estimated Costs to Retire in Bosnia

Again, I will sum up our Sarajevo estimates and then talk about adjusting down for Mostar and Bijeljina.

Sarajevo

Lower

(USD)

Middle

(USD)

Rent

444

800

Utilities

100

160

Groceries

280

375

Restaurants

220

300

Cell Data

10

20

Laundry

0

0

Drinking Water

7

7

Internet

29

29

Transportation

64

120

Total

$1154

$1811

 

 

 

Alcohol

110

230

Optional Total

$1264

$2041

 

 

 

Entertainment

200

300

Optional Total

$1464

$2341

Our above lower cost estimates for Sarajevo would be for the two of us living on a tight budget. When we first started exploring, we were on a much stricter budget. But now, we spend more because we receive additional income from YouTube and Memberships.

I would estimate that 80 to 90% of overseas retirees will spend significantly more than our above-estimated lower budget. So, the middle estimate is just another example of what other expats might spend for these expenses if they moved here.

To understand what it would cost you to live here, you must put your feet on the ground, see what you would choose to rent, eat, drink, and how you would entertain yourself, and add it all up. It doesn’t matter what anyone else spends because we are all different.

If you are a retired expat in Bisnia and would like to share your cost of living, please email me at (https://vagabondbuddha.com/contact/) and I will invite you on the channel to tell your story as a guest.

Mostar is as much as 20% Cheaper than Sarajevo

According to Numbeo, the cost of living in Sarajevo is about 14% higher than in Mostar and rent is 40% higher in Saralevo than in Mostar. Overall, it would be about 20% more living in Sarajevo than in Mostar. But like Sarajevo, that will depend on how you choose to live. Without accounting for future inflation, the low to middle range for Mostar would be $1171 USD to $1872 USD.

Bijeljina is as much as 30% Cheaper than Sarajevo

According to my personal observations and estimates, the cost of living in Sarajevo is about 20% higher than in Bijeljina and rent is 45% higher in Saralevo than in Bijeljina. Overall, it would be about 30% more living in Sarajevo than in Bijeljina. But like Sarajevo, that will depend on how you choose to live. Without accounting for future inflation, the low to middle range for Bijeljina would be $1024 USD to $1638 USD.

Bosnia Retirement Desirability Factors

I will now share what I learned about Bosnian retirement visas, healthcare, walkability, Internet, food, weather, things to do, social considerations, safety, expat communities, and real estate, and then assign an overall retirement desirability score to Bosnia.

Walkability: High. We walked everywhere in all three cities. We found all of our daily needs within a 15-minute walk of our apartment. So we would not need a car if we lived in Bosnia. Avoiding the expense of a car would be highly desirable to us.

Internet: Medium. The wifi in Bosnia seemed slower than in other countries we have visited in E. Europe on this trip. The download speeds were acceptable overall, but it would take longer to upload YouTube videos, sometimes as much as 4 or 5 hours per video. So we would upload them at night while we were sleeping. Not the end of the world I guess unless you were time-pressed.

Food: High. We found Farmer’s market-type sellers wherever we went in Bosnia and grocery stores never seemed too far to walk since we lived in central areas in each city. Links to the markets, restaurants, and other services we used in all three cities are on our Retire in Bosnia webpage, the first link in the description and comments below this video.

Weather: Medium. In Sarajevo, the summers are warm and sunny and the winters are very cold and snowy. Annual average temperatures vary from around 24°F (-4C) to 82°F (28C) but rarely goes below 11°F (-11C) or above 93°F (34C). The best time of year to visit Sarajevo is June through August if you prefer warm weather.

In Mostar, the summers are sunny and hot and the winters are cold but snow is rare and short-lived. The annual temperatures range from 31°F (-1C) to 89°F (32C) but it rarely goes below 21°F (-6C) or above 97°F (36C). The best time to visit Mostar is June to August if you like warm to hot weather.

In Bijeljina, the summers are warm and sunny and the winters are very cold and snowy. Over the course of the year, the temperature typically varies from 26°F (-3) )to 84°F (29C) and is rarely below 15°F (-9C) or above 94°F (34C). The best time to visit Bijeljiina is May to September for warmer weather.

Things to Do: Both Mostar and Sarajevo are tourist towns and Bijeljina is a border town with agriculture driving the economy.

Bijeljina has a small-town feel with very friendly people and a well-planned community that feels safe and welcoming.

Mostar is mostly a tourist economy but the white wines and grapes coming out of that region also have been winning regional awards. Many tourists stop over to see the ancient medieval town of Mostar and that is why it is famous. It is a great place to stop over and just walk around and learn about the regional history here.

Sarajevo is a desirable tourist destination but is also the capital city of Bosnia. So if you are a cultural lover and like to live near, not just visit a diverse cultural mecca, then Sarajevo is your choice.

Social Considerations: Younger people are more likely to speak English in Bosnia than the older generations. Further, we found that Bosnians are more comfortable speaking English in the tourist areas of Sarajevo and Mostar than in the outside areas. Bijeljina doesn’t get as many tourists so people there don’t get as much practice speaking English. If you are going to try to integrate into the Bosnian culture, I would recommend studying their language. It will not be as necessary in central Sarajevo or central Mostar.

Safety Considerations: Medium. Bosnia was ranked the 61st safest country in the world 70 spots safer the the USA. When I last checked, the US State Department webpage for Bosnia assigned a level 2 risk–Exercise increased caution, and I am quoting, “Terrorist groups continue plotting possible attacks in Bosnia and Herzegovina. Terrorists may attack with little or no warning, targeting tourist locations, transportation hubs, markets/shopping malls, local government facilities, hotels, clubs, restaurants, places of worship, parks, major sporting and cultural events, educational institutions, airports, and other public areas.

Minefields and land mines are present throughout Bosnia and Herzegovina. While suspected hazardous areas are normally clearly marked, several people are killed or injured each year,” end quote.

You can also review my report, How to Travel the World Safely, which is how I have remained safe traveling the world for 17 years. We went out walking late at night in Sarajevo, Mostar, and Bijeljina and never felt a hint of trouble.

Expat Community: In March of 2024, the EU opened accession negotiations negotiations with Bosnia to join the EU. There is no set date for completion of the accession as an EU member nation.

A few locals verified what we have learned over the last few months traveling around Eastern Europe–prices seem to rise rapidly when countries adopt the Euro as their currency especially when they are also a Schengen member.

Since Bosnia is not presently an EU member nor do they use the Euro as their currency, the prices seem lower overall.

Here are a few Facebook pages that cater to English-speaking expats living in Bosnia: 1, 2, 3. These online expat communities are great for learning all about things that expats want to learn when they first move overseas. Make sure to search for previous questions asked and answered recently before posting any questions to these groups.

Medical: Medium. This healthcare international comparison index ranks Bosnia 95th in the world, 26 spots worse than the United States which ranks 69th. There are different ways healthcare is rated, but this one seems to be considering quality of care in relation to what patients are charged.

If you decide to move here, make sure to ask around for referrals and establish relationships with doctors based on the feedback you have gotten from others who have used their services. The above Expats Facebook pages may be a good source for that information.

Tourist Visa: Bosnia is not a member of the Schengen Visa countries. That means that time spent visiting Bosnia does not go towards the 90 days you can be in Schengen countries during any 180 period. So Bosnia is one of the countries you can spend time in when you are waiting to go back into the Schengen countries.

Americans, Malaysians and many other countries can enter Bosnia visa-free for 90 days during any 6 month period. To see if passport holders from your country can enter without a visa, visit the webpage for the Bosnian Embassy in your home country.

Temporary Residency Permits: You can apply for temporary residency for up to 5 years. I read that you can apply to renew your temporary residence permit for 5 years and then apply for permanent residency.

If you are a member of a country that can enter Bosnia without a visa, then you can apply for a temporary residence permit while in Bosnia. Reasons to apply for residence change from time to time but at this moment include charitable work, real estate ownership, marriage to a citizen, education, family reunification, humanitarian reasons, and founders of a company. There is no retirement visa per se so you need one of these other reasons. There is no minimum real estate purchase price that I could find nor could I find a minimum corporate founders investment requirement.

Rather than promoting any one visa agency, immigration lawyer, or applying by yourself, I would recommend that you request more information on the Facebook pages I shared above. Ask the expats there how or who helped them successfully obtain their temporary residence permits of the kind you are interested in whether by real estate purchase or company foundation.

Make sure to read the recently questions asked and answered on the Facebook pages so people don’t have to answer the same questions already asked and answered recently.

Real Estate: High. When I read about it today, foreigners are allowed to purchase real estate in Bosnia. Today, I saw this small apartment for sale in Sarajevo starting for about $125k Euros $135k USD.

I saw this small apartment for sale in Mostar starting for about $115k Euros $124k USD.

I saw this small apartment for sale in Bijeljina starting for about $75k Euros $81k USD.

 

Several sources online report that Bosnia has no restrictions for foreigners who want to buy real estate in order to obtain a temporary residence permit and that there are no real estate minimum purchase requirements.

However, I do not recommend buying real estate in a foreign country until you have lived there for an extended period of time making sure you love it. If you decide to buy real estate, you should also get your own lawyer who has no conflict of interest with you. For example, do not use a lawyer recommended by your real estate broker or your local lover.

Bosnia Retirement Desirability Score: Medium. The winters are slightly more mild here as compared to other parts of Eastern Europe, but still not warm enough for me to live here year-round. But for someone who would be happy here in colder months or who can afford to fly south for the winter, Bosnia might be highly desirable. Bosnia is certainly one of the most underrated places in Europe.

What would it cost you to live here in Bosnia?

To understand what it would cost you to live here, you must put your feet on the ground, see what you would choose to rent, eat, drink, and how you would entertain yourself, and add it all up. It doesn’t matter what anyone else spends because we are all different.

You should add anything to the above table that you spend money on in your home country that is not listed in the above table. Presumably, you find those things necessary in life. To do that, visit the Numbeo and add anything not mentioned in the above table.

Also, if you are going to try to retire cheap offshore, make sure to read my report, the Two Biggest Risks of Retiring Early for Cheap Offshore, which explains why you should have emergency funds available for unexpectedly large expenses.

I didn’t carry medical insurance for most of my first 17 years living overseas. But last year I bought medical insurance. If you are wondering what it costs and what it covers, watch my medical insurance video at this link. This is not an affiliate link.

More typical expat living costs in Bosnia range from about $1800 to $3000 USD per month. But people spending that much often have higher savings, incomes, or pensions. They often report spending more on accommodations, entertainment, eating out more, traveling, and alcohol. Many also have more expensive cars, houses, or apartments.

The first link in the first comment below has links to everything we discussed in this video about Bosnia. Make sure to subscribe so you find out our next stop in Eastern Europe.

To binge-watch every video I have ever made about retiring for pennies in paradise, click the playlist in the upper right-hand corner of your screen right now.

Sarajevo Old Town Walking Tour

Sarajevo is the capital and largest city of Bosnia Herzegovina. It is the largest urban, economic, political, financial, social, and cultural center with an influence on the entire region in the fields of entertainment, media, fashion, and art.

In 1914, Sarajevo was where Duke Franz Ferdinand was assassinated, which started the First World War and ended Austro-Hungarian rule here and resulted in the creation of the Kingdom of Yugoslavia.

Sarajevo is one of the few European cities that have houses of worship within the immediate vicinity of each other including Mosques, Catholic churches, Orthodox Churches, and Synagogues.

Many of us may remember when Sarajevo was home to the 1984 Olympics. We will also never forget the Siege of Sarajevo which latest 1492 days and ended with the death of 11,541 citizens including 1,601 children.

An additional 100,000 people were murdered during the ethnic cleansing, 80% of which were Bosniaks. An international tribunal convicted the two generals in charge of the Seige, General Stanislav Galić and General Dragomir Milošević, of life in prison and 28 years, respectively.

Nothing ever good follows when humans begin to stoke the flames of hate about their fellow humans. When you see hate arising like this, understand that it is an enemy of god stoking these flames and you need to be on the other side of history to remain in god’s graces.

Here is the Google map of our old-town walking tour of Sarajevo.

Google Maps

Sarajevo City Hall is one of the most beautiful monuments from the Austro-Hungarian period. Construction began in 1891 and was completed in 1896 and the style is inspired by Spanish and Northern Africa Islamic art.

The City Hall was destroyed in 1992 during the Siege of Sarajevo, Reconstruction started in 1996 and was completed in 2014. Now it is used as an exhibition hall, a concert venue, and the National Library.

Old Bazaar (Bascarsija) is the historical center of Sarajevo, built by Isa-Bey Ishakovic, the founder of Sarajevo in 1462. The Gazi Husrev-beg Mosque was constructed in 1530, the Old Orthodox Church was established around 1539, and the Old Synagogue was built in 1587.

Sebilj Fountain is the heart of Sarajevo which inspired numerous copies around the World, in Belgrade, St. Louis, Missouri, Bursa, Turkey, and Rozaje, Montenegro.

Saraci Street is one of the main walking streets in Sarajevo known for traditional handicrafts, candy, sidewalk cafes, restaurants, souvenirs, jewelry, perfumes, and local art galleries.

The Cathedral of Jesus’ Heart is a Roman Catholic Cathedral constructed in 1889 and modeled after Notre Dame in France. Unlike many of the other buildings in the city, the Cathedral was not destroyed and continued to host services.

Pijaca Food Market is where locals get good deals on all sorts of fruits, vegetables, meats, and many other things.

Orthodox Cathedral of the Nativity of the Theotokos was constructed in 1863 when Sarajevo was technically still part of the Ottoman Empire. Most of the 36,000 dukat construction cost was covered by Sarajevo’s Serb merchants, as a symbolic act, the Ottoman sultan Abdülaziz and the ruler of Serbia, Prince Mihailo Obrenović, each donated 500 dukats.

Sarajevo Assassination Memorial Plaque is a historical monument that commemorates the assassination of Franz Ferdinand of Austria on June 28, 1914 by a group of Bosnian Serb nationalists, called the Black Hand, who sought independence for Bosnia and Herzegovina. The murder set off a chain of events that ultimately caused World War I that engulfed Europe and the entire world.

Bijeljina Bosnia Walking Tour

Here is our Google map of our old town Bijeljinna walking tour.

Google Map

Editable Walking Tour

Where we stayed in Sarajevo, Mostar, and Bijeljina

Sarajevo: We stayed at this Airbnb for $31 USD per night with the weekly discount before adding Airbnb fees, cleaning fees, and taxes. It was a great location but we would move further out if we had time to stay for a month or longer. Everything we needed was within walking distance and I have listed all of that below under restaurants, shopping, and services.

Mostar: We stayed at this Airbnb for $45 USD per night with the weekly discount before adding Airbnb fees, cleaning fees, and taxes.

Bijeljina: We stayed at this Booking Apartment for $27 USD per night with the weekly discount before adding Airbnb fees, cleaning fees, and taxes.

Travel from Croatia to Mostar, Sarajevo, and Bijeljina

We booked bus rides online at https://getbybus.com/en/ to travel from Croatia to the cities of Mostar, Sarajevo, and Bijeljina in Bosnia, in that order. Bosnia did not have any reliable Taxi Apps for us to use on our smartphones. We got the names and phone numbers of taxi companies from our landlords in all three places. We were able to book Taxis in each city by texting the taxi companies provided by our landlords using the Viber App on our smartphones.

Restaurants, Bars, Markets, Services

Sarajevo

Restaurants (Below in local currency 1.8 BAM to $1 USD)

Bars and Cafes (Below in local currency 1.8 BAM to $1 USD)

Services and Markets (Below in local currency 1.8 BAM to $1 USD)

Mostar

Restaurants (Below in local currency 1.8 BAM to $1 USD)

Services and Markets (Below in local currency 1.8 BAM to $1 USD)

Bijeljina

Restaurants (Below in local currency 1.8 BAM to $1 USD)

Services and Markets (Below in local currency 1.8 BAM to $1 USD)