are refurbished printers worth the risk?

I am in the market for a home office HP laser printer OR an HP Office Jet. I found a lot of models online (and some at a local Walmart even) that are marked "refurbished." They're in factory boxes with regular packaging and many are HALF the cost of the same machine "new." A $399.00 HP laser printer is $179, as an example. Is there much risk in buying a refurbished laser jet or Office jet printer? Do you get a warranty from the mfr. (HP in my case) just like you would if it were sold as new? Is there anything I should watch for?

Sara