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Trip planning: Boston to Istanbul/Sarajevo

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This is my first time planning a trip overseas. My hope at the end of next April/beginning of May is to go from Boston to Istanbul (4 days), Istanbul to Sarajevo (3ish days) and then back. I have a few questions for more experienced travelers out there...

-When would you typically book a flight to get the lowest fares? Right now it's around $1,100 on Turkish Airlines, which appears to be the most reliable option (they also fly direct between Istanbul and Sarajevo).

-My tentative hotel budget is $50 USD/night in Istanbul and $40/night in Sarajevo -- subject to change, of course, but those are the numbers based on what I've looked at thus far. I've never stayed in a hostel but am open to the idea. Do those prices seem reasonable if I'm looking for an adequate hotel? Any suggestions from someone who's stayed at a hostel in Sarajevo/Istanbul?

-Any advice re: estimates of daily cost of meals/transport/tour fees per day on trips to either destination, or a general trip to Europe? Again, any guidelines would be extremely helpful. I just want to have a general idea of what might be a smart amount to budget.

I've read some of the reviews of Istanbul and Sarajevo on this site -- it's actually one of the reasons why I chose Sarajevo as a second destination. Thanks in advance for your help!

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