Low mileage in itself doesn't worry me one iota, i still when possible buy low mileage vehicles, never had reason to regret that but those vehicles have been well serviced.

The problem with low mileage is too many short trips, most engine wear happens when the engine is cold on any vehicle, then you get condensation in the engine innards (and exhaust sytem) and corrosives and nasties end up in the oil and stay there because the engine doesn't get hot and burn them off...oil and oil filters in such vehicles should be renewed under harsh conditions routine, at least once but preferably twice a year even if that means at very low mileages.

You get exhaust filter problems on modern Diesels too, again exacerbated by short trip routines.

The Volvo in question might have been a short trip vehicle, or it might have been used for infrequent longer trips (ideal car then), in theory there should be less seat squab and pedal wear for the infrequent user, hopefully a bit of CSI style interior examination might give some clues as to its use.

However its been used i would want to see at least an engine oil change recorded every year in the service history, so long as its been well serviced the low mileage i would regard as a bonus.

Note, even with the low mileage, time will be catching up with the timing belt, i haven't a clue when this will be due but worth checking out as it won't be a cheap job.