What kind of printer you get for your home depends on what you plan on printing. As a general rule, if you print text only, or text and graphics that don't need color, a mono laser printer will do the trick. If photos are on your agenda, you need an inkjet or dedicated small format photo printer. If the only color output you print is graphics, you probably want an inkjet as well, but if you print infrequently, an inexpensive color laser may be the better choice. Laser printers have the advantage of being able to sit for months without being used, and then simply turn on and work, without the clogged nozzles or wasted ink for cleaning them that inkjets sometimes need. If you plan on doing any scanning or copying, but not so much that you need a standalone scanner, you should look to an all-in-one or multifunction printer. Decent AIOs aren’t that much more expensive than their printer-only counterparts. 

For everyday printing, store-brand 20-pound weight paper will usually serve nicely. However, you'll often get better looking output if you step up to a higher-quality paper. For lasers, as well as for inkjet text and graphic printing, that means a heavier weight, and possibly a brighter white level. For photos on inkjets, it means getting matte presentation paper or photo paper. Getting photo or matte paper that's the same brand as your printer will usually be the best choice; printer manufacturers design ink and paper to work together and often offer a variety of presentation and photo papers.

Recycled paper also offers acceptable quality, and you can find 100% post-consumer-content recycled paper for many uses, including cover stock and bright white paper suitable for business use. There are other kinds of eco-friendly paper as well, such as all-purpose paper made from sugar cane and photo paper made from cotton. Do your small part to save a tree and research eco-friendly media options. Any modern printer will handle them well.