After I retired, I bought a new Singer for around $300. At that time that was the most I ever spent on a machine. Boy did I come to hate it. It was impossible to get the tension right. Next came a Bernette 65 for $250. Did not like that one either. Then I was given an old computerized machine that had auto tension and needle down. It was like driving a Cadillac after driving an economy car. Smooth going. But, it was made for sewing and not quilting so it had a small throat space and the presser foot lever and the thread would get caught up in the bulk of the quilt. Then bought a Babylock classroom machine that was originally $3400 and got it for $1700. Sure is nice to have all those decorative stitches, auto tension, needle threader, thread cutter, and nice large throat space (9") and the pressor foot and the thread are out of the way of the throat space. Nice.
But, the bad thing is that the local dealer has to send the machines to the next state over to get a certified repairman to service it. Which means being without my machine for atleast two weeks.
Figure out what you can afford - most dealers offer interest free for a set amount of months. Also, ask them about trade-ins. You might be able to get a more expensive machine that way. Some people treat their machine like cars and upgrade/trade-in every couple of years.