Sugarbrie has some good suggestions. Other things you might want to look into : I had a Rega planar 3 / Rb300 / super bias MM cartridge while I was in the UK and enjoyed its smooth but detailed sound. A used Rega could be resold for its purchase price if necessary. I have also read of people tweaking the RB300 arm and getting it to perform very well, though I have no personal experience with such teaks.
Also consider getting a Hunt EDA record brush to remove the dust before each playing to improve the sound and maintain the records. If you would like to start buying used vinyl (which is kind of fun since it is cheap and plentiful) then perhaps also budget for a record cleaning machine such as the nitty gritty or even the KAV cleaner which uses your existing vacuum cleaner (I can find the URL if you're interested).
Have fun !
Also consider getting a Hunt EDA record brush to remove the dust before each playing to improve the sound and maintain the records. If you would like to start buying used vinyl (which is kind of fun since it is cheap and plentiful) then perhaps also budget for a record cleaning machine such as the nitty gritty or even the KAV cleaner which uses your existing vacuum cleaner (I can find the URL if you're interested).
Have fun !