I paid $18,000 for my 2wd open station 1998 555E backhoe with 1,800 hours on it almost 20 years ago. I have over 8,000 hours on it now and it's been pretty reliable. Hoses and cylinders have pretty much all been replaced and rebuilt. I'm on my third starter and I just replaced the mechanical fuel pump for the 4th time last month. It's starting to smoke a little when I start it up, but otherwise, I just change the fluids on it, keep it greased, and it keeps working. If I could go back in time, I would buy 4wheel drive. That was my big mistake, but I've learned to live with 2wheel drive, but it's always painful when I get it really stuck bad and I have to destroy a lot of land dragging it out with the hoe.
I think that I would really enjoy and get a lot of work out of an excavator, but I also have too many other things that I need to build on my land that need my money more then an excavtor. I also really like being able to take out a tree with the hoe, pick it up and carry it to the burn pile with the grapple, and never having to get out of the seat, or get on another tractor.
When I start clearing my late brothers 40 acres, I'm going to haul it there and leave it there for awhile. The big advantage to this is that I only have to have one tractor there to do just about everything. I'll need to bring the grapple and the front bucket, but with the Quick Attach, it's pretty simple to change from one to the other. The grapple sucks at carrying dirt to the hole the tree left after it comes out. I'll also dig a huge pit to burry the burn pile, which is fast and easy with the hoe, then fill it up with the bucket, and smooth it out by back dragging. Once the grass grows back, there will be no sign that there was a pit there.
You cannot do a lot of these things with an excavator. If you have an excavator, you also need something with a loader.