A few thoughts: It’s your call, but in my humble opinion I wouldn’t convert your ABS brakes to a non-ABS system. Obviously, the most economical solution is to overhaul the caliper yourself. Not a horribly difficult job. You might consider giving it a try. It is a lot less work than converting your whole brake system to non-ABS.
Another option for you is to find a local mechanic willing to rebuild the caliper for you. More expensive, but still simpler than converting. Once the caliper is rebuilt or replaced thoroughly flush your brake system and refill with fresh fluid. That will minimize the chances of another caliper needing to be replaced.
One final important point. ABS brakes are safer than non-ABS brakes. They’ve saved my derrière a number of times when they didn’t lock up in an emergency braking situation. Especially in snow! That in itself makes them worth a little more expense!
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Will I buy another Volvo??? We'll see....
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