Software - Depends what type of embroidery you want to do now and what you may want to do longer term.
Any machine we buy does not have to be a forever machine, likewise you don't need to buy a full blown package for digitising your own designs right at the start. You can start with what enables you to do what you need now and upgrade or change to something else further down the line.
in fact there's a lot of sense in beginning with a starter machine, learning and then deciding if you want to continue at all or get something bigger or more capable later. Same goes for software.
For (domestic)software, for many reasons concerned with where things are moving to businesswise, it's a good idea to avoid getting locked into a software package under a machine brand name eg. Janome, Brother, Bernina, programmes etc. They make machines and commission another company to create the software. For all sorts of reasons, especially software support and actually turning around fixes without going through middle men, now I recommend very, very strongly to choose a package that is created and sold by the business that makes the package.
Consider either -
Hatch (by Wilcom who made the packages for sewing machine companies eg. Janome, Bernina etc.)
or
Embird
Both Hatch and Embird offer a modular combination where you can either buy the all singing and dancing full digitising package from the outset or start with a basic viewing/edit package and add on extra or more advanced modules as and when you choose.
Alternatively - at the very beginning you can manage with one of the free/open source basic viewing and minimal editing packages. They are adequate for being able to see your purchased designs, sometimes convert the format and sometimes remove bits or combine a couple of designs into an arrangement or rotate, mirror and copy.
Hoops - depending on the type of embroidery you're going to do and the frequency, you should expect to replace hoops.
Hoops for domestic single needle machines are nowhere near as strong or stable as hoops for multi-needle machines. Hoops for domestic machines can distort and be strained very easily and quickly (usually because of over-tightening or packing edges in order to get grip - both the wrong thing to do btw)
If used with thick or heavy fabrics (eg. quilting sandwiches, towels, or heavy fabric, etc.) then it makes sense to keep and use a new hoop for lightweight fabrics or FSL etc. There is no point at all in risking spoiling an item that has been expensive in terms of your time and effort and sometimes fabric cost just because of some hoop slippage because you need a new hoop. Same goes for risking a project by skimping on needles or replacing bobbins. Also, many people buy one or more extra bobbin cases (and adjust them for different types/weights of bobbin fill and different types of embroidery).
As for cost - well, hoops cost what they cost. If you do a lot of machine embroidery then replacing frequently used hoops should be considered or you find yourself spending more and more time and effort finding ways to try and control slippage and design distortion.
As always affordability and what we see as expensive or the going rate is relative to our own situation - £50 or £70 for a replacement hoop every 12 - 24 months of use for some people is cheaper than one night out.
Machine embroidery is not cheap, let's face it it's not a mainstream activity.
It helps to remember that at the beginning it is not necessary to get every stabiliser type or every colour thread or every hoop size or loads of designs or different types of embroidery thread and so on. Often it's much more practical to learn the basics, ie. correct stabiliser/design/fabric/thread/needle combinations and appropriate hooping method for fabric/project, followed by multi-hoop designs. Once the basics have been mastered, it's a good time to take a step back and decide what you want from an embroidery machine and whether you want a full on digitising package or massive hoops or a multi-needle machine or every colour of a particular thread, etc.
For many people that decision point seems to come around after using the first machine for about 2 years.