Yep. That's exactly what I do. I thought about a color laser, but even the Brother ones will not print if one of the colors is empty (or, at least at the time I was researching).
So I got a good mono one that covers 99% of my needs. For the few times I need to print in color, I just have that done somewhere for next to nothing. Typically those are photos, and what I get back are better than I'd have printed at home.