Talk to a few former bug owners first. I had one for 2-3 years, and my dad had a '56 when I was a kid. Some things to keep in mind:
1) if you live in a cold area, VW heaters are a joke at best, and dangerous at worst. It's an air cooled engine, the heat is captured by a shroud over part of the engine and/or manifold (I don't recall). Two problems-if there's an exhaust leak in the manifold, you have an excellent chance of sucking carbon monoxide into the passenger compartment and (2) less serious-but VW has no sort of fan or anything to move that "hot" (quotations intentional) air. You have to leave a window rolled down a bit to help suck the "hot" air through the system, but if it's 20 or below you'll be doing good to even defrost the windshield.
2) To me, at least, this was a frustrating engine to work on-you can see everything but I always had a hard time getting a wrench or screwdriver on anything due to interference with other components or the engine bay. OTOH, I had friends who were wizards at working on VWs-they could swap an engine on a VW bus in a half hour (which was a real problem if you parked your bus in a dim corner of the campus parking lot-come back to a "new" crappy engine).
3) VW bug is basically a 1930's design, highly revised over the years. Today's econoboxs put it to shame as far as fuel economy, interior space utlization, comfort, trunk space, etc. That said, the bug was generally a pretty fun car to drive, unique in that the windshield was pretty close to your nose.
Personally, if I got my hands on a old bug and had the time and inclination, I'd make a kit car or dune buggy out of it.