I have two Janome machines. The first one I got was Model 115215. It was a refurbished one and a real workhorse. I'm not sure if it is still available but it is in the $350-400 range. I just recently got a 8900qcp with the wide harp. I got a new one but those are used on cruises a lot and quite often you can get a cruise model for around $3000. I got the dealer to match the cruise price for a new one. I love that machine. I don't have any experience with Babylock. I was using my mid 1970's Viking machine before early this year when I got the first Janome.
If I were you I would give your current Janome a good cleaning, change the needle etc. and if it's been almost a year since you've had it in for service consider that. It might be something simple and you'll have less than $100 bill and a machine that purrs.