Hit up your local Home Depot tool rental if you need a hammer drill. They sell them after not too much use. The Makita I pictured above is the same one I bought from HD a few years ago when I needed to cut a hole in concrete block for a PVC exhaust for a furnace. It has proven very handy. Having worked at HD tool rental for a few years, you can trust their used tools. They are impeccably maintained and rarely fail. When they do fail, they get factory parts and get repaired quickly so they can get back on the shelf for making money.
Get the smaller one. They use SDS plus bits which are commonly available at HD, Lowes, and HF. If you get the larger SDS-Max, those bits are usually pro-only and pretty pricey. For a home improvement tool, SDS plus should do more than you need. You can usually get concrete hole saws for SDS plus in sizes up to 1.75". If you need to drill for 3" or 4", you'll have to go SDS-Max. I have seen hole saws up to 4" for SDS plus, but they won't perform well at all.
I have two drill-driver kits. One is an earlier Ridgid drill/driver combo, and the other is a later Hammer drill/driver combo. So in my arsenal I have all I need: Two impact drivers, one cordless drill, one cordless hammer drill for small masonry jobs, (or turn the hammer off and its a regular drill) a corded drill for heavier stuff like drilling metals, and the SDS hammer drill for larger masonry projects.
I find myself rarely using the corded drill. My cordless will drill steel just fine, but heavier steel projects sometimes means going through a couple charges. They have plenty of torque, just not the battery life for doing a lot of holes in heavier stuff.
If you're just drilling some 1/4" holes in concrete to hang some shelves, any hammer drill will do; cordless, corded, whatever. If you have a bigger project and need a bunch of 3/8" holes, or a 2" passageway for conduit, step up to SDS
The way a cheap hammer drill works is that you put the bit in a traditional chuck, then the hammer function punches on the chuck. It isn't a very heavy-duty way for a bit to hammer on masonry. An SDS has keyed flutes on it that allow the bit to float in the chuck and the drill then hammers on the bit itself. Much beefier and more reliable. Small projects can use a chuck-style hammer drill. Bigger stuff or long-term use should use SDS