As well as being above your budget, that mill isn't big enough to drill to the center of a 12" square part, since its Y travel is only 5.1". Ideally, you'd want something with a table that's 12" wide, so the whole thing is supported when you're working on it. But I don't think you'll find a new mill that's big enough for the money you want to spend. Have you looked into used equipment?