Hi there! I can’t speak from personal experience, but IL published a report in 2023 called “Hidden Land of Luxury” which has a few pages on Bali. Here’s what the report had to say about living there:
The cost of living in Bali is much more affordable than living in the U.S. This is probably why Bali is such a desirable destination for many expats. A budget-minded couple can live comfortably on as little as $1,100 a month or less. Up that to $2,100 a month and you’ll be living very well.
As for what life is like in Bali, this report also details one couple's experience in the town of Sanur. Here's an excerpt from that section:
Choosing Sanur was easy. “The beach path, the calm waters of the ocean, the ability
to sit and enjoy a meal with our feet in the sand, it was an easy decision,” Stephen explains.
And after his many surgeries, Sanur was the place he would visit with Kim to recuperate.
The tranquil surroundings have a special place in their hearts, Sanur is their “happy place.”
On Stephen’s last birthday, they could sit by the beach and watch as a group of
Balinese children were training for their soccer team. It’s being able to sit and relax like this,
enjoying local life, that makes it all worthwhile they say.
If you’re interested in reading more about visas and residence in Bali, you can find this report here. Bear in mind that it's an older report, and prices may have changed since it was published in 2023.