Enlighten me oh wise one.

I have done all of my ingredient research and setting up my lab to start working on my formula. Both formulas will be anhydrous. One is a butter-style product and the other is a balm. Correct me if I am wrong, but I believe that an overhead stirrer will get the job done. Shopping around there are so many options. Could someone lend some recommendations?

 Also, I am still in the market for a heating element. I do not see the use of a magnetic stirrer since I will be using an overhead stirrer. any recommendations on a hot plate w/ digital temp controls? 

My budget is around $700 between the two. 
Thank you in advance for your help
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