Welcome to the Forum.
As you say, you have to select a machine that will do what you need, in the space available and within budget.
I tend to advocate choosing a machine that is a little larger than you first think believe, a job will come along that is JUST too big for your first choice.
Already, the gauntlet is being thrown down to start the argument over old British vs new Oriental, inviting the comments about wear or lower quality… Both schools of thought are valid (I have just seen a very basic machine come out of the box with the Tailstock offset by 0.020" over 8*! ) But also know of an old machine with a dip worn in the bed.
Having owned machines old and new, so have seen both sides of that coin.
Caveat emptor applies whichever route you take, but at least a new machine has a warranty., but a well maintained and carefully used used machine can give a lot of bang for fewer bucks.
.