ByRob Harris, writer at Creators.co
Sometimes I play video games.
Rob Harris

Video game consoles aren't cheap, so it's worth thinking long and hard before you decide to commit your hard earned cash to a new box. Complicating matters, it's not only about what, but when. Updated hardware iterations quickly make past models obsolete, so the worst thing that can happen is dropping $400 one week before a new and improved model is sitting pretty on store shelves.

With that in mind, now is just about the worst time to invest in a new console. The rumor mill is currently abound with whispers of new consoles, both Sony and Microsoft seemingly primed to unveil shiny new hardware at this year's E3. Our advice? Wait it out a couple of months. With any luck, these two secretive projects will be revealed soon.

PS4.5

According to developer sources, Sony is currently working on an upgraded version of the PS4, unofficially dubbed the PS4.5. If you're thinking about investing in Sony's virtual reality headset, scheduled to hit this fall, this is the box to wait for.

Apparently, the new console will support 4K resolution, providing higher fidelity gameplay that makes all the difference in VR.

Xbox One Slim

An unconfirmed leak from the Federal Communications Commission (FCC), which comes via NeoGAF, suggests we might see a new Xbox One console on shelves as early as this summer.

The leak might mean nothing at all, but if a new version of the Xbox One does indeed exist then it's likely to be a slimmer model akin to the Xbox 360 slim that launched in 2010.

Some have suggested that we could see a version of the console that loses the disc drive completely, playing digital-only games. In any case, an NDA that's currently keeping the new hardware a secret expires on June 25, which lines up all too conveniently with Microsoft's E3 press conference. It would be a wise to wait it out until then.

Which console are you eyeing?

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