i don't think he's got the budget for the constant repairs 
My Mk3 16v needed lots of work.
I bought it for top dollar, thinking that it was a good specimen. The dealer was full of sh1t.
Then within weeks it needed a new Catalytic converter, and the standard one didn't fit for some reason, so that was a few hundred on a custom made job. Then the stereo stopped working, another £150 on a new one, and even then the wiring needed sorting out cos somebody had bodged it.
One electric window constantly wound itself down, so after attempts to get it fixed, I just had it disconnected.
Then needed a new alarm remote, that was £80.
Then it broke down as I was leaving work, wouldn't restart. Got towed home. Took it to the garage the next day, they replaced the distributor, another load of cash.
Lots of other niggly bits. Kept on stalling at traffic lights, even with a warm engine, garage couldn't work out why.
Then I got hit in the side by some tw@t who didn't stop to exchange details.
Then realised the clutch and gearbox were going. So sold it.
It cost me over a grand in 9months.
That said, it was a fun car to drive, nice and comfortable, great on the motorway (got upto about 45mpg at times). But I replaced it with a Mk2 16v, which was even more fun. Wish I'd spend the money on a decent Mk2 in the first place.
I'd say, if you can find a good condition 16v and you want the power, go for it, but be wary that the 16v engine seems to have more potential to go wrong.