The little sibling to the R72 and R70, the Canon VIXIA R700 is the company's most affordable camcorder for 2016 with a $299 list price. And while the R700 eliminates the wi-fi and built-in memory, with the same sensor and lens, video quality should be identical to the more expensive options.
The Canon R700 captures video with a 32x optical zoom lens (57x hybrid optical/digital zoom) and a 1/4.8" sensor. Video is a solid 1080p HD at 60 fps, so action looks smooth, not choppy. The bit rate is average for the category, though there are a few options with higher rates.
The R700 includes a baby mode that adds your child's age automatically to the footage, as well as automatically adjusting the settings for the best quality. Without wi-fi, though, the R700 can't double as a baby monitor like the R72 and R70.
Because the Canon R700 eliminates unnecessary features like wi-fi and built-in memory, the camcorder is a good budget option, since image quality will be the same as on Canon's more expensive R72 and R70. If the absence of wi-fi and built-in memory bums you out, check out the R72 and R70, or the other budget camcorders currently on the market.