Seed (Hi Charles) and Rick make a lot of sense here.

Another banjo to consider is the Ramsey(Chanterelle) student model. Excellent starter banjo. I think it is in the $300 US range and Elderly carries it periodically. Easy to play, sounds great, quality components, a good price for its value.

I bought a Goodtime and looking back now it was not the best choice. There is no truss rod in the neck so when the wood eventually warps, I won't be able to readjust the neck. Plus the 5th string does not have a nut, it only has a guider which deadens the sound of that particular string. I actually liked the windswept peg head. It was great for packing when travelling. It didn't take long until the Goodtime became my spare banjo, and I now use it for canoe tripping as an extra paddle (just kidding).

Miss Bonnie