I've just read through this thread and the only other point I can add is that if you choose to take on the repairs yourself:-
a) are you able to work somewhere safely off-road and on level ground
b) all jobs take much longer to do than you think
c) consider where the nearest spares shop is ... there's often something else you need eg penetrating
for the corroded nut that won't undo or a new nut/washer/spring etc etc because the old ones just pinged off and rolled away.
d) have you mates willing to help
e) are you happy to not have the car to use for a couple of days because you're still halfway through a job
Many of us (me included) end up buying a lemon as our first car (and sometimes our 8th & 9th cars
). In your shoes I would be inclined to buy another car ... as VS has shown there are better cars available for less than the cost of repairs to your car. Put is down to experience. Also with welding once rust has got hold of the car you'll find more areas which need patching year after year, especially if your car has been on salty sand/sea air etc after the previous 'surfing' owner.
Good Luck on your decision.