I've had two 205's and I like 'em! I paid £2800 for the one I have now which has a few little niggles, but then I bought it knowing that. I'm lucky in that I have another car I can use when it goes into the garage or when I refuse to fund Shell any more! lol
I was looking at cars around the country before I got the one I have now, which were mainly around the £4k mark. One was on GT4OC and was a mint standard one, the other was a heavily modded one on Pistonheads. I chose mine cos a) it was local and had a good service history and was basically standard meaning I could make it what I wanted.
If you can afford one and afford to run it, great. If not, leave it 'til you can.