Lowe makes a good boat. Any used riveted boat is going to need a little attention, will probably leak a bit - but that's no biggie. The Lowe V boats are very similar to the Sylvan boats - they handle nicely in a chop, though the transoms are usually cut pretty low and you don't want to take on too big a chop, following waves can swamp these. I've been out on a 16' Sylvan in a 3' chop on Winchester bay once, and it was sketchy. We took a wave over the low transom, thank god we had a splash well and a brand new bilge pump!
As a lake or river boat it'll be great, and you can take it out on the bays most days and be just fine.
Check the electrical connections, make sure the steering/throttle cables are properly lubed, clean up the battery terminals. It's a little investment in time, but time spent on dry land attending to the small problems the boat may have will save lots of headache when you're on the water.
What kind of motor is on it? Guessing a 40-70 horse Force or Mercury (they were very popular motors as factory options in the 90's) - does it have the bracket for a bow mounted electric?