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New Ibanez SR305 or used SR505?

SR500
neck type-SR4 5pc Jatoba/Bubinga neck
body-Mahogany body
fretboard- Rosewood fretboard w/Abalone oval inlay
fret- Medium frets
number of frets-24
bridge-Accu-cast B300 bridge
neck pu-Bartolini® MK-1 neck pu
bridge pu- Bartolini® MK-1 bridge pu
equaliser- EQB-IIIS 3-band eq w/Mid frequency switch
hardware color- Cosmo black

SR300
neck type-SR4 5pc Maple/Rosewood neck
body-Agathis body
fretboard- Rosewood fretboard w/White dot inlay
fret- Medium frets
number of frets-24
bridge-Accu-cast B120 bridge
neck pu-CAP EXF-N2 neck pu
bridge pu- CAP EXF-N2 bridge pu
equaliser- EQB-IIID 3-band eq
hardware color- Cosmo black

What you are paying for 500 is upgraded bridge and different woods, finish and pups. I think they are pretty equal but it comes down for the personal preference. MK-1 is split coil pickups so 500 series sounds more like jazz bass.
 
I recently bought myself the SR505 for $550 USD out the door+free shipping :). I played both basses and the SR305 is almost as good. I do however, like the SR505's feel, looks, and pick ups more in my opinion and that's why I went with the SR505.

Congrats btw :)
 
Ended up choosing the 505 it's cheaper, in great condition and its from 08 so it's got some age to it XD

I've got an SR 506 and a GSR206 and wash my mouth out with soap, but I love the tone of the agathis body just a tad over the mahogany though usually I'm a HUGE fan of mahogany bass bodies. But my 506 is clearly a much better built bass than the lower numbers. I think you did OK.