A lot of valid comments on this. Now for a few more!
What lathe you choose depends on what you weant to do with it, (and looking to the future; because your horizons will expand as you gain confidence)
Years ago at the Worthing M E S Open Day, someone said "You can do small work on a big lathe, but you can't do big work on a small lathe"
An ex Industry lathe will have been worked hard for most of the time. It was bought to work and earn money for as much of the time, as possible.
An ex College/School lathe will not have seen as much use, but will have been abused. The Toolpost will probably have hit the chuck a few times, or the auto traverse abused and the shear pin been asked to do its job.
A new modern Eastern lathe may well have hardened bedways. Imperial dials/leadscrews may well be harder to find, but recent bikes will be metric anyway.
You may be able to find a fairly recent belt driven "Amateur" lathe in reasonable condition, not having been asked to take deep cuts at high feed rates, for days on end.
(Here, I am thinking terms of Warco BH600, Warco BH900, Chester Craftsman or possibly an Engineers ToolRoom BL12/24) All these are similar, with belt drive headstocks, with power cross feed from a Norton box, so less messing about with changewheels, to cut a wide variety of threads. These have a MT5 mandrel, so will pass upto 38mm. (One of the reasons, that I changed from a Myford ML7)
Geared Head models will be noisier than belt driven.
Older machines, even if mechanically good, may not have the speed range to get the best use from indexable carbide tools.
If you consider buying a second hand machine, with a three phase motor, it may be cheaper to buy an inverter than to a new single phase motor. Luxury, is to have a dual voltage three phase motor, with Variable Spee Drive via an Invertor. (My BL12/24 has a 1.5hp motor with VFD and I rarely find the need to take off more then 0.100" a side in one cut)
Belt drive has one advantage, the belt will slip if everything really jams. Plus belts are cheaper and quicker to replace than broken gears – if you can get them.
Ultimately, as Neil says, it is down to personal choice, and budget.
As an Apprentice, I fell in love with a 21" swing Dean Smith and Grace, but have not space or money for one, so my coat is cut according to my cloth.
Howard