Randy seems to hit the major areas of concern. I have only owned my wagon for one year, but I can tell you that Volvo parts seem reasonably priced and they are fairly simple cars for repair shops to work on (avoid the dealers). For $1000 (that is also what I paid for my 84) as long as it starts, brakes, shifts, and does all the other basics, it is worth it. Minor things can be done over time, i.e. bushing, struts/shocks, etc. Good luck...

Jay
84 245 GLTi 220k