I spent the money for a solid wood, spruce top ukuele for my first purchase. I lurked around this forum enough to figure out that most people who bought a laminate quickly upgraded when they caught the bug. At the time, I was also thinking that if I didn't like playing (for whatever reason) I could sell a solid uke whereas I'd never seen a laminate for sale on the forum. The upside was the playability, the sound, and the look. The downside was when I knew I was hooked, I didn't have a "kick around" uke I could bring to the beach, parks etc. I've upgraded a little since then and I've only been playing since July (started lessons in August).
I guess I would pass along the advice given to me. Buy the best you can easily afford. But beware, UAS sets in FAST!