An excellent choice for a first big bike!
Got any photos?
Sat for 16yrs, hmm, it depends how it's been stored. If indoors and sheltered from the elements, it'll probably be in good nick. If stored outside obvious signs of corrosion and perished rubber would be the main thing to look for. Common issue is for the rubbers between the carbs and the engine (edited: not airbox) to crack, but it takes a lot for them to go right through.
If it's noticeably rusty I would be worried about pitting on the forks, rusty exhaust studs, the exhaust itself (the original is prone to corrosion) and chain. And the clutch might be a bit sticky if the plates have corroded.
To be fair, nothing on a Fazer is massively expensive to put right, with the exception of the gearbox, front sprocket nut and exhaust studs. All common issues with a fazer but shouldn't be a concern on a low mileage bike like that.