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I bought and own two used 94 wagons, one for 2 years(113k) and a turbo wagon(77k) for 1 year. I love them and have had relatively little trouble. I have not had the big(expensive) problems others on the board have had and can only recommend them. I bought the first car before I knew of this board.
The door limit attachment on my first car did crack(from rust) from the pillar within 3 weeks of my purchase, but the dealer gave a nice loaner and fixed it for free. It is like new.
I have replaced the pollen filters, done the brakes and a new battery on the non-turbo, replaced some tubing(about 2 dollars), and the serpentine belt on both cars( all the work done by myself, preventative work). I have fixed the squeaky back inner door liner on both cars. I think these things are all well within reason for cars this old. The cars look new inside and out.
My wife was nervous when we bought the first one but was sold on them after our first long(6 hour)trip. Her back did not ache and she was not tired. Their safety, comfort (and the power in the turbo)is unlike anything else. The wagons take a ton of cargo and their look is distinctive and solid.
The maintenance is not like my Toyota(oil and tires), but when I was in an accident in that Toyota- let me tell you it was not fun. I feel safer in the Volvo.
The cars have always started and never let me down. I am sure there are lots of others with the same story.
Read this board for several months and get used to the main difficulties with the cars and know what to look out for. Get it checked out, and find the records! I bought these cars from dealers and they had all the records on them.
I can say that I have spent maybe 40 dollars in the last 3 years for things were outside of the oil/filter and normal wear. They were: the tubing, the fix-it kits for the door hatch innards, detail tape to cover the peeling strips along the roofline on one car, and other little doodads. The cars are 6/7 years old so I do not expect perfection. I am fixing the little things that may not bother other owners.
A dealer you like and trust is important
I like my cars and have had few problems.
I hope you find what you like and have a great experience.
Good luck, Let us know what you do!
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