Don't Wait if You're Gaming on a PS3 or Xbox 360
If you don't already have a console that is part of this generation it means you will miss out on a lot of new games that are not coming to the PS3 or Xbox 360. It also means sitting out on some of the best Sony exclusives for a very long time.
This is especially true if you are gaming on an older console because you don't like buying new consoles at launch due to the high prices, bugs, lack of games and cost of buying new accessories.
We've seen most games drop support for the PS3 and Xbox 360, and expect that trend to continue through the next few years. If you keep your PS3 and wait for a PS5, you will miss out on a lot of games.
Instead of waiting for the PS5, buy a PS4 on sale this year, when there is a good trade-in deal, and use it for three years and upgrade when there is a PS5 deal after the release.