Electro-Voice - PL76

I don't really like the restrictions. It's going to limit your quality. That said, the SM57, for the price range, is very versatile. If you are open air singing.... Recording the vocals & guitar at the same time, same mic... Maybe look into a small or medium condensor mic. But, there goes your budget? I do have an old E/V PL76 that I like a lot. But, it takes modding or stacking batteries to get it to work. There is one reverb for $50. KSM32 is also an amazing mic. Sometimes you can get them used, pretty affordably. They are going to pick up a lot. It's a medium condensor.

At home a dynamic mic works best for me. Audix OM5 is my choice right now. I've also used an Electric Voice PL76. However, they are a bit obscure & problematic. & It's a condenser. More expensive choices are out there. M88 TG by Beyerdynamic is a great mic. I've used an MD421 but, it's a bit "poppy". Depends on what & how you are using it for. I love the old standards Shure SM57 & SM58 but they can be a bit flat sound for recording vocals.

Most of the options listed here, already, are passable but not great. I switched to an Audix OM5 & the results have been excellent. As good as my trusty old(problematic) PL76. B&H had a good price on the OM5 recently. Check there, first. I use mine for most vocal stuff now. From recording to rehearsal & live. There are some other great options, but you'll need a bigger budget for those. Such is the neverending "search for the Perfect Mic". Dilemma.... But, the OM5 has done great things for me.. having an arsenal of MD421's, SM57's & a couple OM5's. I feel like I could record just about anything. Maybe have a KSM32 for the perfect acoustic situation. Then We'll always have our Dream Mics, which are always hyped beyond their capabilities...