First, let me say that I love my 1987 Porsche. There really is no substitute! I searched diligently for the right car and have been rewarded with a solid, very reliable vehicle. I bought this car from a local Porsche Club member with the goal of driving it on the street and attending Porsche Club drivers education events. I chose a 911 Targa in Ocean Blue (Dark Metallic) with several engine modifications and suspension modifications. The car handles like a race car and has great acceleration.
For the novice 911 enthusiast all I can say is "educate yourself". This is an enthusiast car and the more you know the more you will enjoy the car and the less you will fall into the common 911 pitfalls.
The other reviewers have described the 911 well but let me provide advice on what you need to do to enjoy a 911
1) Read as much about 911's before you purchase one. These are unique cars, essentially designed in the 1970's as weekend racecars. A well-kept 911 is not temperamental or unreliable but they can demanding to drive. You have to know and accept the demanding nature of the car and it's quirks before you buy one otherwise you will be dissatisfied.
2) Find the best condition 911 you can afford with the help of a good Porsche mechanic and the local Porsche Club - become a Porsche Club member so you have access to the local club and national resources and so you can find a good local mechanic to do a pre-purchase inspection. This will help assess condition of the vehicle. Also read Panorama and Excellence as market guides. Excellence lists the current prices in the recent transaction listing section. Look for a complete receipt history and a certificate of authenticity from Porsche to be confident that you have an original, well-kept car.
3) Budget $2000 for service/repairs/upgrades in the first year and for subsequent years. You won't be able to predict everything that will break but this is a good number based on my experience and the experience of a number of 911 drivers I have spoken to. If you maintain it well you can sell it for a good price.
4) Participate in your local Porsche club events, especially driver’s education where you can learn how to drive the car more effectively in a controlled environment
Amount Paid (US$): 22,000
Condition: Used
Model Year: 1987
Model and Options: Targa, suspension & engine mods