Congratulations on the purchase of your house
. As far as cutting cable it depends on what you watch. I'm not home a lot so I don't watch much television to begin with. I'm a casual sports fan so not having access to all the games is not crucial. If a game is on and I have nothing else to do or something else I want to watch then i'll watch a game otherwise I'm good.
I use my PS4 and have Playstation Vue to watch cable. The cheapest plan they have is $29.99 which gives you most of the big channels like CNN, USA, TNT, ESPN, etc. Only thing I really watch though is CNN, USA for wrestling, and ESPN when a basketball game is on. Plus you can even get some local channels. I also have a HD antenna so I can pick up local channels for the local news, local games, prime time tv, etc. The antenna I bought was $30 at Walmart and gets a good signal. I also got a roku that I've been having for awhile which you can use for Netflix, Hulu, etc for folks who don't have a gaming system.
I got Netflix, Amazon prime, and Hulu and combined with my internet I'm paying WAY less than what I was paying with cable.
It's definitely worth it but make sure you got a very good internet package.