Do you have ROOM for a longarm? I did and then purchased one using their no interest financing. I am paying $219 a month for 4 years. I got the machine and frame at a quilt show where they had this financing. I pay ahead of time every month. I guess it depends on how much you would use it and would you consider doing quilts for others who would pay you. After awhile, you would feel that you were experienced enough to do that. But you would have to LOVE it. I love doing it and have finished 16 quilts in 8 months. I have almost covered my expenses without doing anything for another person.
This is really a personal decision, but the frames are huge. 10 to 12 feet. Could you do that?