Must get inkjet:-
1. if you want color prints, specially photo prints,
2. if you print regularly,
3. if you have lesser desk space,
Must get laser:-
1. If you want a reliable black and white only printer, like for business and for cheap prints,
2. If you may print occasionally or irregularly, (it only has toner powder, so ink doesn't dry like inkjet)
3. If you want clear text and good sharpness, specially for small sized fonts & diagrams,
For home use, I suggest this inkjet printer as its available with a discount for now, that too with extra ink bottles:-
Canon Ink Tank G2002 Multi-function Printer - Canon : Flipkart.com
Just remember to use it once in 2-3 days at least, even if its just useless printing... Don't worry, costs just 8-20 paise per print or so.