To clarify - GAS (gear acquisition syndrome) will get you in its evil jaws. Some people own basses for just a few weeks before moving them on in favour of something else that is equally/more shiny. If it’s of reasonable quality it will do, whatever it’s price tag. Even cheap stuff is decent these days and there is enough experience here to advise how to make it better than that.
i would never spend your budget on a bass even now. £500 is the most I’ve ever spent on anything and that got me (admittedly with some luck) into US fender/German-made Warwick territory.