After we purchased our property, we picked up a JD310 backhoe. (tractor loader backhoe) I have/had 3 main excavations to do, and I figured that the 10K price wouild be offset by doing them myself. After doing the first, the 40x80 shed, and building a driveway, I'm happy that we got it. I still have the underground/earth sheltered house and garage to do.
Like CJ says, you can use it for a lot of different things on a homestead. Fire it up, and hoist the bush hog off of the trailer, put some pallet forks on the bucket, and unload 1000 lb pallets of molds, dig a hole to bury the rotting deer we found...
The bigger the machine, the more you can do with it. You have more control with the smaller machine, however. The dedicated backhoe gives you the most capabilities, but they run $8k-$12k used and in decent condition. You can find them at
. machinery trader You might be able to find the mini-track hoes there as well. If you can afford it, I don't think you will be displeased with it. Once you have one, jobs for it seem to pop up left and right.
Michael