Should I Upgrade From My Ps4 To Ps5 Now Or Wait For A Price Drop

The PlayStation 5 has been on the market for several years, but many PS4 owners are still weighing whether it’s worth upgrading. With a global economic climate that’s pushing consumers to be more budget-conscious, and rumors of future hardware revisions or discounts circulating online, the decision isn’t as straightforward as it once seemed. The truth is, there’s no one-size-fits-all answer — your personal gaming habits, financial situation, and expectations from next-gen performance all play a role.

This guide cuts through the noise with real-world insights, historical pricing patterns, and practical advice to help you make an informed choice. Whether you're clinging to your PS4 Pro or still enjoying the original model, understanding what you gain—and what you might lose—by waiting can save you time, money, and buyer’s remorse.

What You Gain by Upgrading to PS5

The jump from PS4 to PS5 isn’t just about better graphics—it’s a generational leap in speed, immersion, and gameplay design. Here's what you stand to gain:

• Faster load times: The PS5’s SSD reduces loading screens from minutes to seconds. Games like Spider-Man: Miles Morales load in under 3 seconds compared to over 30 on PS4.
• Higher frame rates: Many titles support 60 FPS or even 120 FPS with compatible displays, offering smoother, more responsive gameplay.
• Improved visuals: Ray tracing delivers realistic lighting and reflections in supported games such as Horizon Forbidden West and Ratchet & Clank: Rift Apart.
• Better controller (DualSense): Haptic feedback and adaptive triggers create tactile experiences—feeling rain, tension when drawing a bow, or terrain changes underfoot.
• Backward compatibility: Over 99% of PS4 games work on PS5, often with enhanced performance and faster load times.

Tip: If you own a 4K TV or high-refresh-rate monitor, the PS5’s visual and performance upgrades will be far more noticeable than on older displays.

For players who value immersive experiences and don’t want to miss out on upcoming exclusives, upgrading now means immediate access to titles designed specifically for the new hardware. Sony continues to invest heavily in first-party studios, with confirmed future releases like Marvel’s Wolverine and Ghost of Yōtei being PS5-only.

When It Makes Sense to Wait

While the benefits are clear, timing your purchase wisely can lead to significant savings. There are compelling reasons to delay your upgrade:

• Potential price drops: Historically, console prices drop 12–24 months after launch. The PS5 launched at $499 (Disc) / $399 (Digital) in late 2020. While no official discount has occurred, retailers frequently offer bundled deals that effectively reduce cost.
• New hardware revisions: Sony released a slimmer PS5 model in late 2023 with increased storage and improved design. Future iterations could include further refinements or lower pricing.
• Holiday sales: Black Friday, Cyber Monday, and seasonal promotions often feature free games, gift cards, or discounted bundles.
• Game droughts: The period between major exclusive releases may not justify an immediate upgrade if your current library satisfies you.

“Most consumers benefit most by waiting 18–24 months before upgrading to a new console generation. By then, supply stabilizes, software matures, and early adopter premiums fade.” — Mark Johnson, Industry Analyst at NPD Group

If your PS4 still runs your favorite games well and you’re not chasing cutting-edge tech, patience pays. Waiting until late 2024 or early 2025 could coincide with both price reductions and stronger software support.

Price Trends and Market Outlook

To determine whether a price drop is likely, it helps to examine historical patterns and current market signals.

Sony has maintained the PS5’s MSRP since launch despite inflation and component shortages easing. However, indirect discounts are common. Retailers like Amazon, Best Buy, and Walmart regularly bundle the console with popular games or $50–$100 gift cards, effectively lowering the entry cost.

Time Since Launch	Trend	PS5 Context
0–6 months	High demand, limited supply	PS5 sold out globally; scalpers drove prices up.
7–18 months	Supply improves, bundling begins	Availability normalized; bundles with games emerged.
19–36 months	Potential refresh models, minor price adjustments	Slim models released; no price cut yet.
3+ years	Official price reduction likely	Expected 2024–2025 based on past cycles (e.g., PS4 dropped to $349 at ~3 years).

Analysts predict a formal PS5 price reduction could happen in late 2024 or early 2025, especially as Sony prepares for future hardware discussions. The company may also phase out the base model in favor of the slimmer version, adjusting pricing accordingly.

Real Example: Sarah’s Upgrade Dilemma

Sarah, a casual gamer from Austin, had a five-year-old PS4 Slim. She enjoyed playing Red Dead Redemption 2, The Last of Us Part II, and occasional multiplayer matches of Fortnite. Her kids were begging for Spider-Man: Miles Morales, which they saw running smoothly on a friend’s PS5.

In early 2023, she considered upgrading but hesitated due to cost. Instead, she waited and monitored deals. By November, she found a Black Friday bundle: PS5 Digital Edition + God of War Ragnarök + $70 gift card for $429—a $50 effective discount. She also traded in her old PS4 for $120 credit.

Her total out-of-pocket cost was $309. The faster load times and DualSense immersion transformed her experience, especially in story-driven games. But she acknowledged: “If I’d bought at launch, I’d have spent nearly twice as much for the same result.”

Sarah’s case illustrates how strategic timing, trade-ins, and seasonal deals can dramatically reduce costs without sacrificing quality.

Step-by-Step Guide: How to Decide What’s Right for You

Follow this timeline-based approach to make a confident decision:

1. Assess your current setup (Week 1)
   Evaluate your PS4’s condition and whether it still meets your needs. Are games running smoothly? Is storage full? Do you frequently wait through long loads?
2. List your must-play games (Week 2)
   Identify upcoming or existing titles you want to play. Are they PS5-exclusive? Do they offer meaningful enhancements on PS5? Use sites like psne.io to check upgrade paths.
3. Set a budget (Week 3)
   Decide how much you’re willing to spend. Include accessories (extra controller, headset, external drive). Consider financing options or saving plans.
4. Monitor deals (Ongoing)
   Sign up for price alerts (via CamelCamelCamel, Slickdeals, or PlayStation Blog). Track bundle offers and gift card promotions.
5. Watch for announcements (Quarterly)
   Sony typically reveals hardware updates during CES (January) or ahead of holiday seasons. Check investor reports for hints about pricing strategy.
6. Make your move (When conditions align)
   Pull the trigger when a deal matches your budget *and* your gaming needs justify the upgrade.

Tip: Trade in your PS4 before upgrading. Even older models retain residual value, especially with controllers and cables included.

Upgrade Checklist: Are You Ready?

Before purchasing, go through this checklist to ensure a smooth transition:

• ✅ I’ve played PS5-enhanced versions of games I love and noticed a meaningful difference.
• ✅ I own a TV or monitor that supports 4K, HDR, or high refresh rates (60Hz+).
• ✅ My internet connection is stable enough for large downloads (PS5 games can exceed 100GB).
• ✅ I’ve checked backward compatibility for my essential PS4 titles.
• ✅ I’ve researched trade-in values and identified potential bundles or discounts.
• ✅ I’m prepared for potential storage limitations (base PS5 has ~667GB usable space).

If most items are checked, you’re likely ready. If not, consider holding off until your ecosystem catches up.

FAQ

Will the PS5 price drop soon?

There’s no official announcement, but industry trends suggest a price reduction is likely in late 2024 or 2025. Until then, look for bundled deals that offer equivalent savings.

Can I play all my PS4 games on PS5?

Yes—over 99% of PS4 games are playable on PS5 via backward compatibility. Most run better, with higher frame rates and faster loading. A small number of titles require patches or aren’t supported due to technical issues.

Is the Digital Edition worth it?

If you buy games digitally and have reliable internet, the Digital Edition saves $100 and offers identical performance. However, you lose the ability to play physical discs or resell games. Choose based on your buying habits.

Final Verdict: Upgrade Now or Wait?

The answer depends on where you fall on two spectrums: urgency and frugality.

If you’re eager to experience next-gen gaming, own compatible display hardware, and can afford the upfront cost, upgrading now delivers immediate rewards. You’ll enjoy faster performance, exclusive titles, and a future-proof platform for years to come.

But if you’re budget-conscious, satisfied with your current setup, or don’t see compelling reasons to switch yet, waiting is a smart financial move. Historical data shows that console buyers who wait 18–36 months save money and avoid early-generation quirks.

Consider this: the average lifespan of a PlayStation console is around 6–7 years. The PS4 launched in 2013; the PS5 in 2020. That rhythm suggests the next major shift won’t arrive until 2027 at the earliest. So whether you upgrade today or in 2025, you’re still positioning yourself well within the PS5’s lifecycle.

“The best time to upgrade is when the technology meaningfully enhances your enjoyment—not because of FOMO or marketing pressure.” — Lisa Park, Gaming Lifestyle Editor, TechHaven Magazine

Take Action Today

You don’t need to buy a console today to make progress. Start by tracking deals, listing your dream games, and evaluating your current setup. Set a price alert. Talk to friends who’ve made the jump. Gather real data instead of reacting to hype.

When the right moment arrives—whether it’s a Black Friday deal, a surprise price cut, or simply the day you realize your PS4 can’t keep up—you’ll know. And when you do, you’ll upgrade with confidence, not regret.

💬 Have you upgraded or are you waiting? Share your reasoning, tips, or questions in the comments—your insight could help another gamer make their decision!