Tractor or Mower (Kubota)

The older you get, the more valuable a good tractor becomes. That said, the phrase "buying the minimum tractor I can get away with" is most certainly a guarantee that you will not be fully satisfied with the tractor you purchase.
Buying less than you want can work for clothing, cars, boats and most discretional items; maybe buying underpowered equipment can work for an urban/suburban family. When you are a rural/self sufficient/homesteading type landowner, you are almost always better off buying the tractor you need rather than what you thought you could afford.
I knew a guy years ago who never would buy an oil filter wrench. He'd punch a screwdriver in the filter to break it loose. Horrible mess everytime to save $2.
If I had your concerns, I'd look in the used market. Compact tractors can out live most of us with regular maintenance, and you can likely find used tractors 5-7 years old for the price of a new sub compact.
Brush hogs are for keeping pasture grass cut down, finish mowers are for making it look good. SCUTs are limited to the smaller size pull behind units. I can't imagine not having a front end loader, but that is my own personal situation. You could probably get a three point carry all for behind the tractor as a cheaper option.
Scrimp on vacations and dinner out, don't short change yourself on your equipment.

I've got an L3800 with loaded tires and a FEL. I cannot use it for mowing grass as it will tear up the lawn in anything but the driest weather.(especially in 4 wheel drive) I bought forks for the FEL and use it quite often. The bucket and a box blade are very handy. There has to be some weight behind the tractor to get any safe use out of the FEL. I poured a 55 gallon drum full of concrete(1000 lbs) and rigged it to attach to the 3 point hitch. I take the FEL off to do my bush hogging as the FEL makes the tractor less stable on uneven ground. The FEL is easy to attach/detach on fairly level ground. The 5 foot bush hog will knock down most anything you would want a bush hog for. I kind of wish I had bought a 6 foot bush hog but the extra weight might have caused steering problems as the front end can get light now.

I also have an older Ford 1110(16hp) with a 4 foot bush hog.(no fluid in the tires) It is slower going with the bush hog but has cut fields well enough. Sometimes I think I'm pushing it too hard. You can get a under belly mower for it but the 4 wheel drive still cuts up the lawn when you go to turn.

I can't answer your questions but hope my experience might be helpful in some way.

JMO
Doug

It depends somewhat on how much of that will be lawnlike or more rough-cut pasture. How hilly your land is and how many obstacles you have to mow around will also be a consideration. I finish mow about 2 acres every 1-2 weeks. The first season I just used a little old Kubota B6100 4WD sub compact tractor with a 4 foot brush mower. Not ideal, but it's what I had to work with at the time. My place is fairly hilly and has enough stuff to mow around that it would take me over 3 hours to mow my place.

Since then I've gone to a dedicated mower and would never go back. I can go faster, with a smoother ride, and don't waste time maneuvering a tractor with a comparatively lousy turning radius. I cut my mowing time in half and that includes mowing a few extra spots that would have been dangerous to take the tractor. The mower I got was also a Kubota. It's a used GF1800 with 4WD. It's a smallish (by commercial standards) front-mount mower. It handles hills better than a zero turn. If my place was flatter I'd probably have opted for a zero turn though.

If you can swing it, go for a dedicated mower in addition to the tractor. For 3-5 acres a used commercial mower is a better investment than a brand new homeowner model from the big box stores.