As far as the current options for “budget” laptops and chromebooks go, this is a pretty decent pick, potentially… I picked up a few, back when they were new (both this and the prior generation), as an IT purchase for execs at my company. Here are a few of my notes, which might prove helpful, though with the caveat that I no longer have one at my disposal to use for immediate testing, and the products offered today are refurbs, which may not have the exact battery capacity, or may have some other shortcoming:
** - CPU:** Decidedly a bit older, from the 4th gen (Haswell) Intel Core processors. However, the 15W part can handle 4 threads on the 2 cores, which is easily good enough to run Adobe software well, alongside some other multi-tasking.
** - Graphics:** Definitely the weakest part. Intel HD 4400 is roughly the equivalent of the now decade-old (older actually, but whatever) Nvidia 7800 GTX. Don’t expect to game much on this, except at significantly decreased settings, especially resolution. If you cut to 1280 x 720 HD (1/4 of the resolution, hence calling the doubled scale QHD, or quad-hi-def), it should be able to eek out some titles. Even then, stick to casual stuff, to be safe.
** - Screen:** WQHD 2560 x 1440 is my personal favourite resolution for use, and despite being on a 14" screen, should scale decently for Win10, while still granting clarity. And the touchscreen is a bonus, though not especially useful in the traditional clamshell laptop form factor.
** - Size/Form Factor:** 14" is a terrific compromise, giving you full reign over a real keyboard (which Lenovo does a decent job with, as well as the trackpad/touchpad combo), but not getting too awkward to carry. It’s also very thin, and light, which makes it an easy carry, even compared to iPads, though with the much increased productivity options. Battery life should prove fairly impressive, considering battery size and the U-series (Ultra-low voltage) CPU. It does have some minor flex, due to the extremely thin body, but isn’t so fragile as to make one too worried.
** - RAM and SSD:** Don’t expect to be able to upgrade your RAM on this one, as it’s soldered to the board. However, it’s decent stuff, and the 8GB should prove sufficient for most mobile users.
The SSD is actually one of the more impressive components, IMHO; I don’t have the benchmarks anymore, but they were definitely good enough. The most important thing (for weight, and performance) is that it’s not a physical HDD, and beyond that, the speed differences between most good SSDs then becomes arguing about your BMW versus a Porsche, in comparison to the old Corolla that you ditched (for the record, I drive a Corolla - very reliable, but not a sports car). The point is that this is pretty good on both memory and storage, if a bit light on the latter. But with external and cloud options, most should find it adequate for an ultraportable like this.
** - Ports/Connectivity:** The 802.11ac Wi-Fi and BlueTooth are very convenient, if a bit more than most may need. At least it’s current, and somewhat future-ready.
With a mini-DisplayPort (v1.2), HDMI (1.4, but not capable of full 4K), and a couple of USB 3.0 connectors, you should be in a good situation for ports. And if you plan to expand beyond that, Lenovo has the ability to dock this one, which is admittedly very convenient, but not commonly used outside of large businesses due to scarcity and price of the dock.
** - Miscellaneous/Conclusion:** I honestly find a lot to like in this model. The adaptive row of keys was mostly a useless gimmick. However, the Lenovo brand, and ThinkPad line, in particular, have a pretty strong reputation for durability and reliability. This model was no exception - I never had to deal with any hardware faults with those issued in my company over the past couple of years; The only issues were software, and user-related. My only real complaint about it was that the keyboard had slightly more flex than I cared for, but considering the thinness of the tray, and limited key travel, it is well within acceptable engineering limits.
I am not overly-thrilled with the idea of getting one refurbished, especially not knowing if the battery has been replaced, since that type of quick-charge LiPo battery has a limited number of effective charges before the durability becomes a factor.
However, all other things considered, it should be a very capable machine, both for its size/weight class, and in general applications. Just don’t buy it for gaming, and you should be alright! 
Cheers!