Yeah, a currency/country would be helpful, but I'll assume your currency is something like USD, CAD, AUD, EUR, etc. For that price, you should be able to get a Fluke 87V, Agilent UA1272A (will be close), or step down to a UEi DM393, etc. Edit to note: I've read several posts from a few people on here praising Brymen meters as recommended in the post following mine, but I have no personal experience with that brand. They are probably also a good choice. A lot of it is going to depend on where you are and what deals you can find.
You could potentially go a bit lower end and buy something else like a CRT oscilloscope with the difference, or split your budget for 2 multimeters (as Dave constantly explains, having 2+ can be useful if you want to measure current and voltage at the same time), etc. If you do go for 2 multimeters, I'd go for like a $50 one and a $200 one or something before getting 2 of the same. Make sure the $50 one is good enough for current and voltage, while using the higher-end one for mains (since it will likely be safer to use) and for other tests like resistance or capacitance. I still have the first multimeter I bought (the 3rd or 4th I owned in total), a cheap Chinese jobber I bought for around $20, and it's reasonably decent for current and voltage but is WAY off for resistance and some other stuff. (I do not recommend getting a crap $20 meter, even as a secondary - I just had very little money when I bought it)
Functions you should look for: AC Voltage, DC Voltage, AC Current (down to milliamps should be good), DC current (down to microamps would be best, unless you're sure you won't be working with circuits that precise - but better to have the feature and not use it than to need it and not have it), resistance, frequency counter, diode/continuity test with buzzer. For current, a 10A+ mode (with a separate input jack) is helpful if you ever work on relatively high-power circuits.
Some nice-to-haves: temperature, capacitance, transistor tester. Then there's other stuff like datalogging, hold and store, etc. that depends on application and could be of use to you (though datalogging in particular will add significant cost and you likely don't need it). I'd also say inductance, but inductance is hard to find on a multimeter - you usually need a separate LCR (inductance, capacitance, resistance) meter for that. If you will be diagnosing/repairing stuff, an in-circuit ESR meter is also helpful to quickly identify failed capacitors (the most common issue in failed electronics) but again that's a separate purchase.