I bought my first tractor (new) just a year ago. I was thinking about a backhoe, but finances at the time (I'd just retired), well...
I found that the FEL didn't work worth poop in digging stumps (and I live on five acres of an old eucalyptus orchard?/plantation? with wall-to-wall trees & stumps). Recognizing that the economy was in the toilet, I figured that older, used machines would be on the market as contractors/landscapers/etc contracted and sold their old equipment. Six months ago I found a 40 yr old industrial machine (Massey Ferguson 3165 w/<1800 hrs) on the market really cheap (much less that just a bolt-on backhoe). I had to sink a couple dollars into it, but still less than the new backhoe and I now have a second tractor. If, when I'm done digging stumps, I think I no longer have a need for it I can sell it for at least most of what I have into it. With the two machines, it takes me zero minutes to prepare the backhoe.