Don't waste your money on a cheap one. You'll burn it up on one big job. We've owned two now doing three rooms. We didn't have one for the kitchen floor, and I wish we had. Ceramic tile cutting by hand sucks.
For home use you can get a tile saw for about $89 at your local Home Depot or the equivalent. They don't weigh much... 10 - 15 pounds.
The blade lasts through a few floors and they're pretty cheap. Ceramics tend to chip at the end of the cut no matter how slow you go at it. Granite is smooth as heck.
In the interest of full disclosure... my wife usually grouts.
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