Definitely get it in as good and working condition as possible. It will be expensive to fix and some things can not be fixed. also parts do wear over time. so if you have one with high milage things might have worn through and it is most likley the part that wears the fasted on all FW. I have one sweet looking FW wiht a worn bobbin area. I might as well buy another FW because that part is about as much.
I prefer sewing on my black FW, older model, over my white FW, newer model.
$250 is reasonable if it has a case, looks nice, has accessories and works.