I did it and it was not expensive at all. Search for a "tool balancer" they usually go by weight. From memory, the cord is about 12 lbs but I found that info in the forum and bought a used one on eBay for $45. Attach it to the ceiling with a "J" hook like you use to hold a bike to the ceiling.
If you run into problems, I can take a picture of mine, but very easy and effective.