I got my tractor before I paved my driveway, what do I win?
I went thru the same "approval process" 5 years ago
is it extravagant? when tractor shopping, I was going to get a deere, but ended up with a New Holland as it was $2K less.
All told I must have north of $20K "invested" (spent?) in the machine and attachments. I've got a $4K
chipper on order right now

. In 5 years I've put 680 hours on my TC18. I figure the lawn cutting alone would have cost me near $10K based on prevailing rates ($75 for 1 acre of actual lawn). add in snow removal ~$3K over the same time period. This doesn't include special projects and incidentals, fertilizing lawn, grading lawn after pool removal, grading & seeding after driveway install, leaf cleanup, landscaping mulch, tree service etc. etc. etc. If someone stole the unit tomorrow, I've already gotten my $20K worth of work out of it and 670 hours of enjoyment (I subtracted 10 for those plow jobs that really stank - high winds, freezing rain etc, they were not fun).
I'm trying to convince her that it's time to step up to 25-30HP 2,000lb or less machine for our 4 acres. Just trying to speed up the chores - I now have a daugter (20 months), my time is no longer "free". She of course points out that we take on many projects that we wouldn't dream of if we didn't have the tractor. Claims that If I spent less time mowing & plowing that I'd spend more time on special projects - don't get much past the ladies do we?
I tell my wife that since we own this large(r) property, we have a responsibility to maintain it. She'd rather I just piled branches in the woods than buy a new
chipper. I told her that when we go to sell the place someday, that we need to be mindfull of it's "curb appeal" - ie the woods should be a nice shady retreat, not a yard waste landfill...
Good luck and for 7 acres, I think you should be looking at bigger machines - Kubota
B3030 or 3000 series Deere. Also as others have stated, buy used. Since you have acess to Dad's machine, you can take your time to find the right deal. On a late model "big three" - Deere, Kubota, NH you should be able to save ~$4-5K on a 3 year old machine.