I bought a Colour laser for almost the same reason as you, a Samsung CLP - 325. It will be expensive to replace the Cartridges but there is no waste as far as I can judge.
Printing Photos: Do not try to use InkJet Photo Paper ~ the Glaze will stick to your Drum and cause terminal Damage.
There is Laser Specific Paper available, but I have been told that reproduction is not as good as an Ink Jet. However, I am getting quite passable reproduction on Morrisons Cheapo Cheapo paper. Not good enough for Granny but you can see what the Photo is of.