This is the 1179th most frequent Swedish word.
bo
"Bo" in Swedish means "to live" or "to reside."
Here 'bo' is used in past tense 'brukade bo', referring to residing in the village in the past.
Vi brukade bo i en liten by.
We used to live in a small village.
'Bo' is again used as a verb 'to live', indicating a place where one wants to reside.
De hoppas att få bo vid havet.
They hope to live by the sea.
In this sentence, 'bo' ('live') is used as a verb indicating residence.