I am a newbie here. My last 2 bikes were hybrids...they just didn't have a name for them yet.
I am interested in buying another bike. I have a Gary Fisher I like a lot but it is in storage in another state.
I am debating between buying a little bit older bike that was fairly expensive when new (for example I have my eye on a 5 year old Cannondale)and restoring/customizing it the way I want. OR buying an entry level hybrid and just leaving it stock...or the third option, buy a fairly recent bike that would be too expensive new but is now down in price a bit. I am looking to keep it in the $300-$350 range for now.

I am currently looking at a one year old Novara Big Buzz...I found one with an asking price of $350...but I think I could probably get it for around $300.
Anybody have advice on 1: of the three routes which would be the way to go?
and 2: specifically the Novara. Is it a decent bike, worth the $300 etc?
Thanks in advance.