In my experience it's best to have a cheap inkjet printer and a reliable monochrome laser printer. Print as much as possible in black and white using the laser printer, as toner lasts pretty long (1,000-2,000 pages or more, depending on the printer) versus ink, and having 2 printers is useful anyway because inevitably one of them will fail. A new laser printer will easily pay for itself, and you can find fairly inexpensive models now for around $100 or less on Amazon.
Ink refilling is a pain to deal with, as is non-OEM ink. I've just had too many bad experiences with crappy ink quality or ink ruining the printer with lines/banding that wouldn't go away even after cleaning the nozzles, aligning the print head, etc. Recently HP caught a lot of flak for a firmware update that made it impossible to use anything other then their ink. They backed down on that, but issues like that make me think it's just easier to get manufacturer cartridges, but for a cheap cost-per-page printer (Brother usually makes the best value printers in that regard).
Epson has the EcoTank line that uses bottles for refilling ink tanks. They may be more economical with less time spent replacing ink than a regular inkjet printer like the 5050, though the printers are a little more expensive up front versus other printers of similar quality and features.