IMQ707S,
Sad but true......a quality piece that you will enjoy for years costs from $500.00 up. If you want to shoot target like 8" plates at 25 yards or less, either a 1911-A1 or another of John Brownings single action pistols the Browning High power are the ticket.....But they start at around $500.00 unless you buy used. Double action autos do not allow the high quality trigger necessary for shooting targets as a single action does.
The good news is that they can be be highly customized, frequently at home by you for the cost of parts and you can do it a piece at a time over months or years.
.22 target pistols are more accurate but then either of these also can double as self/home defense pistol.
Personally, my favorite is the 1911 but I also own a High Power 9MM. The 9MM is a little cheaper to feed and the 1911 is a little better self sefense pistol. Then the high Power is a littler lighter to carry and has 13 rounds but the 1911-A1 needs fewer rounds ....and on..and on it goes. Both have their advantages and both are great pistols.
Browning High Powers are just becoming available from Fabrique National (the manufacturer of the Brownings which are no longer imported). There are several makers of 1911s. Springfield Armory makes a great entry level pistol for only a little more than you are wanting to spend and a used one would be cheaper.
Before you buy a Glock, H&K or Sig go down to the Gun shop and hold both the 1911-A1 as well. See if you like the way they feel in your hand. The ergonomics are not for every one.
Finally, what ever you buy, save up until you can afford something you like and is good quality (something of value). Then you may wind up keeping it all your life even if you buy something more expensive and esoteric latter on in life. If you do decide to get rid of it, there will be a buyer.
PigPen