Looking for microphone.

What is your affordable price range?  Knowing this will assist us with providing you options within your price.

There are tons of great and reasonably priced mics that usually have some limitations that are fairly tolerable. Like
Are you going to play really loud?
Is it acoustic stuff?
For Vocals?
Drums?
For Live work?
 
Dynamic = for live for most cases. >> feedback resistant
Ribbons are so great and can be had for $100 but can be fragile. Not best if you're a heavy smoker or a clutz. Super useful for loud guitar or drums. In general, ribbons are for loud and usually somewhat percussive sounds. I don't tend to favor them for acoustic instruments other than banjo.
Small Diaphragm condenser for recording cymbals
Large Diaphragm condenser for acoustic guitar or vocals.
 
In the condenser category there are lots of polar patterns
if you don't have a lot of mics, skip figure 8 patterned condensers
probably go cardioid or super-cardioid so they are at least somewhat directional.
You will know if you are going to be a one mono-mic in the middle of the room guy... then omni pattern.
 
I would say pick your category and then find a mic in that category.
Cheap condensers don't do well at high volumes, but cheap ribbons do. Cheap dynamics also do well at high volumes but lose some articulation imho. It's like they are stiffer. idk how to say it in words. Not as crispy.
 

Sweetwater has some mic clips - same vocal over different mic's from relatively inexpensive to high $$$ types.  The difference is "hearable" on many.  I just ordered an AKG C214 based on their clips, to upgrade my vocal mic.  I have some $200 mic's but I find I do a lot of EQing with them.  I'll find out about the C214 as it is scheduled for delivery tomorrow (Wednesday) and I have a recording session scheduled for Thursday and I'll use that to try out and compare the mic.
 
https://www.sweetwater.co...re/vocal-mic-shootout/

As mentioned above, what you are using it for and environment will factor in heavily, since cheap large diaphram mics will be "essentially" omni and incredibly sensitive to everything. I had gotten an MXL V63M for $70 a few years ago (no isolation mount) and the learning curve was entertaining. I am, however, in a fairly quiet environment, can isolate what I am recording readily, and have good noise removal tools available. Please consider how and where you will be using it (and how good the phantom power on your audio interface is!).
 
In general, a large diaphragm is most universal, but sensitive. If you have not had a condenser before, they are very sensitive to shock and air debris (particularly smoke), and require phantom power (some USB powered interfaces do not drive condensers well). Between uses it is often best to either cover them or put them away (do not just leave one open to the air in a room for months).
 
The SM57 is even more universal and highly tolerant to abuse. The dynamic mics generally have less high end (bright) capture, but you may be able to compensate.

For a dynamic I've used as steady go to,
EV-767, without a switch.

Joe_A
Rhodes NT1A for condenser. Been great for me and is a top choice for many.

+1, a number of home studio owners I know use these Rode microphones, I really like mine for male vocals. That being said, I also believe as Batsbrew states, go for the best you can, it's an important component of the studio...

eph221

Joe_A
Rhodes NT1A

Yes indeed.  This is a good suggestion.  I'll check into it.

 
Excellent mic, I bought one with boom stand and pop filter for £140 ($180-$200?)

Now you'll have to send us recordings....😃😃😃

musicroom
Another good solid choice is the Shure Sm7b. Big rich sounding dynamic mic that helps tame the room. Requires a preamp with at least 60db of gain. I have other good choices here, but this mic could carry a lot of the load if needed. It's great on a gtr amplifier / horns, and especially vocals.

Absolutely...
SM7b is a classic mic... for good reason.

I got an AKG C214 and I'm impressed compared to the Audio Technica AT2035 and 2050 I've been using in my home studio.   I did a session yesterday, 4 song demos and the singer and I compared his vocals on both the AKG C214 and the AT2035 (dry - just the mic direct into a channel on my MOTU 896Mk3 Hybrid) and we both agreed the AKG was better.  With the AT's I always used Izotope Nectar to help EQ vocals, with the AKG on the 4 songs we did yesterday Nectar wasn't needed. We even did the "keeper" vocal tracks on all 4.