Would you consider buying a grade horse? There are some disadvantages of course–you couldn’t absolutely verify the age or lineage, for example. Even so, there are some very nice grade horses out there, and they generally sell for less than a similar registered horse.
When I was shopping for my horse, I thought I would get either a quarter horse or a Missouri foxtrotter. Then a grade paint gelding caught my eye. Long story short, I rode him, checked him out as well as I could, and bought him. I’ve had him nine years now, and he has been the perfect horse for me. I literally would not sell him for a million dollars. He’s got a lot going for him, but the thing I like best about him is that he likes to explore new places. If I offer him a choice to either head home or go where we don’t often ride, he’ll choose the road less traveled almost every time. My point is that the right grade horse could turn out to be a real diamond.
Just a suggestion–if you want to do trail riding as well as low level dressage, look for a horse that is already good on trails. Dressage training would be nice, but if the horse is willing and adaptable, that could be trained. And a well trained trail horse should already know basic maneuvers. Some horses that are ridden mostly in the arena aren’t used to trail riding or just don’t have the temperament for it, and there’s nothing worse than a spooky or balky or jiggy horse when you’re out trail riding.
Have you searched any of the online sites that advertise horses for sale? It never hurts to turn over every rock–you might get lucky.