Don't Wait If You Can't Afford It
Google's Pixel 4 and Pixel 4 XL are expensive phones. The bigger model is $900, or more, and most phones in this category have a similar price tag. They're not cheap. And if you want more than 64GB of storage, the Pixel 4 XL is $1,000.
That being said, if you can't afford that or you're pushing your budget already, don't wait for the Pixel 5 or 5 XL. We say that because they'll be just as expensive as this years' model, or worse.
Instead, just get the Pixel 4a XL in early 2020 or something from the competition. The OnePlus 7T comes with a 6.5-inch 90 Hz display, Android 10, triple rear cameras and 128GB of storage for only $599. It's a great alternative to the Pixel 4 and an option you can have right now instead of waiting another year. Even Samsung's Galaxy S10e is worth considering.
If Google packs in a bigger cutting edge screen with no bezels, dual speakers, three cameras and doubles the storage (as they should), it'll easily cost more than previous years. Phones continue to get more and more expensive, and it'll be no different in 2020.
However, it'll probably be more affordable than the iPhone 12 or the Galaxy S11+. So, if you don't want to spend too much money, the smaller Pixel 5 might be a decent middle ground.