Jake71, what I am going to say is probably against what a lot of folks will tell you. Just my opinion.
Owning a backhoe sounds, to most, like finally I own a big boy toy!
If you have ongoing construction work, fine. But to do some jobs when you get time......save your money.
You have already started to convince yourself your need for one. "I know I could rent a trencher for the above mentioned projects but I'd prefer not having too since the only place to rent from is about a 30 minute drive (hour round trip) and I do not own a trailer so I feel it would be a major hassle every time I wanted to dig something." An hour round trip, no trailer, want it when I want it.....
I'd suggest renting when you need a trench dug. Organize your work, then get the machine to get it done. You mention, " I also have gutter drain lines, electrical, water, and internet/TV trenches to install."
All these jobs can be easily done with a trencher. Most will cut a 6" wide trench. Much quicker, less earth moved, less crumbs to put back in trench, less settling and chance of reworking settled area, then a backhoe.
I was picking up some parts last week and took some time to look at the new BX machines with backhoes. I know many will be offended, but that thing is a glorified shovel!
I use to have a trenching business. I still own a Ditch Witch R40. It's an older machine, but it will out dig one of these new small backhoe's by a big margin. I haven't started it since last fall. Why, I haven't needed it. Point is, once you get your jobs finished you have a tool hanging around to show your buddies! You bought bragging rights!
Save that additional monthly amount and put in to your supplies for the gutter, water, electrical projects you mentioned.