Internal memory vs SD card on Lollipop

So I'm thinking about buying the Moto X Style/Pure Edition, but I'm coming from a 64 GB OPO, so 16 GB isn't really going to cut it. To be economical I'm thinking about getting the 16 GB variant and adding an SD card. I haven't used an SD card with Android for years though, and I know a lot has changed. Performance-wise is an SD card going to be significantly worse than internal memory, and am I likely to run into lots of instances where apps won't let me install to the SD card? I install a lot of apps and also use a good amount of storage space for Google Play Music downloads.