Hi, Ramper,
The obvious question to ask yourself, regarding investing some of your $$$ in a drill press, is about the work you want it to do.
Will you be doing, say, mostly woodworking, or mostly fabrication in steel?
If mostly woodworking, you can get by with one of the many varieties of lightly built drill presses. You'd do best to avoid investing in oriental machinery, some are 'sort-of-alright' for occasional 'home hobby' use, but likely to malfunction if used more than that.
There are several good makes of woodworking drill presses, and, as a generality, older is better, in terms of quality and reliability. The light pattern Delta, Atlas, Walker-Turner, and Powermatic come to mind, as would the Buffalo make. Those were usually set up with 1/2" Jacobs chucks, and rated for drilling 5/16" or 3/8" in steel.
In evaluating a machine tool for purchase, 'condition is everything'. It can take some waiting/watching the adverts for a good one. If you are willing to replace bearings in a 'tired' one, or clean/refinish a lightly rusted one, you can sometimes find very good deals.
If you mean to do a good bit of fabrication in steel, or machine work in metals generally, look for a heavier, stronger pattern of drill press. The 17" Delta is common, for example, and is a good light metalworking drill press.
You'll save some $ by doing some 'learning curve' first......look through the old catalogues available on the internet at VintageMachinery.org A look through the old catalogues and spec sheets will enable you to recognise the make and probable vintage of a unit offered on the internet, from photos.
There were several high quality makes of drill presses, as you will see, and you should be able to find a good serviceable one on Craig's list if you can be patient. Note that many of the better makes of these were originally set up with three-phase motors. Its simple enough to replace a three-phase motor with a single-phase motor for private shop use, or you could opt for a 'phase converter', using 'dryer plug' residential 230V AC power.
Fair warning......oriental drill presses are very often available very cheaply, as the previous owner found out about 'product quality', the 'hard way'. You may 'get by for now' or 'get a job done' with one of those, as a temporary expedient, but thats a gamble......the old line about 'don't gamble more than you are willing to lose' applies.
cheers
Carla