Selling a luxury for steem power could turn out a lot better in the end, I think it's a good idea^_-
My advice would be to save a chunk for buying steem during any period it happens to drop in price, hold like $500 incase it dips down for a while then you'll be ready to grab a bunch on the rise back up, but incase that doesn't happen it could be better to have the biggest amount upfront, I'm not really sure.