I got a second hand Trek for about that money. It has done several thousand miles (I think between 5K and 10k, but I haven’t counted up recently), and still works. Obviously you have to change chains, cassettes and tyres, and I replaced the wheels with very strong ones & a dynamo hub to make it more of a commuter/tourer. I don’t know how easy it is to find small road bikes second hand though.
Alternatively, old 10 speed touring bikes are quite fun, can be picked up for next to nothing (like less than a hundred quid), and components last incredibly long. I have a holdsworth that cost £160 second hand when I was 14, rode quite a lot for years with basically no maintenance beyond oiling the chain, changing brake blocks when they went to metal and puncture repair, and it still works fine, my dad seems to ride it a bit now too. The downside is that it is still a little bit more effort to ride than my lovely fast trek, and downtube gear shifters are a bit of an aquired taste, but I’ve done 80-100 mile rides with panniers full of camping gear on it no problems.
Joe