Do you buy two types of ammo such as home defense and ball ammo and use them accordingly? Meaning you load hollow points or something at home but switch out when you go to the range? I'm thinking about using my shotgun for home defense but if for some reason I need my pistol or rifles, I should have hollow points loaded instead of ball.

Yes

Yes, there is a pretty big difference in prices between the two, especially if you buy in bulk.  If you shoot often, you will definately want to have plinking ammo.  If you plan on using your pistol for HD, then there are tons of options better than FMJ.  I would just make sure, prior to buying in bulk of either, that they all cycle through without issues.

I think it is incredibly important to run a few boxes of your preferred HD ammo thru any gun that you are going to use it with.  I'll usually shoot 2-3 boxes of my preferred ammo thru any new gun I buy that would be considered for home defense.  Its also important to try out any new ammo you buy thru your existing guns to make sure everything runs smoothly.  Some guns just don't like some ammo.

That being said, I only ever buy ball ammo for general plinking.  I usually only keep a box or so of HD ammo at home + whatever is loaded in my magazines.  All of the rest of my ammo is just the cheap stuff.

haha just posted in a similar thread in the Firearms and Accesories section.

Yes, for all my handguns I have a few boxes of hollows for HD and more boxes of FMJ for the range. I might run a mag or two of the hollows just for practice sake but never an entire box.

I buy my .357 mag HD/SD ammo. I reload for range use. My 1911 .45  went through a few boxes of JHPs after breaking in with 500 rds. of factory FMJ. Now using my reloads with lead SWC for range use. Mostly just checking reliability after about a thousand rounds before I consider it for HD/SD use.

I buy and reload ball ammo for plinking. I just bought some Hornady Critical defense today for the SD/HD needs at home.