Raincoat vs. Rain "suit"

So it rains a lot here. Like, a lot a lot. Lot here should be spelled OMGRAIN, but I've left it as-is for clarity.

Anyway.

Because of the OMGRAIN that it rains here, I've been thinking about buying a raincoat. I waterproofed both my jackets and all three of my hats before I left, but that hasn't been enough, as the rain does eventually get through and neglected to waterproof my pants.

Again, no jokes please.

I understand that my options are as follows:

• $1 raincoat from the 百円 shop (dollar store)
• $40 two-piece rain suit consisting of full-length pants and a jacket.
• $70 version of the above, with better seamwork, more pockets, a better-constructed hood, and OMGREEN*. Oh, and it looks much better on me. And, for some reason, zips into a lifejacket, if you want it to.
  
• Hell, they're only $30, and you never know when your apartment might flood due to OMGRAIN rain.
  

Comments would be appreciated here, as I'm in a bit of a quandary at this point.
OMGREEN is a special color. It is defined as "Green enough that I like it, and on something cool".

I'm currently leaning towards the green one, if you can't tell.
Again, comments please!