But what if you're upgrading from an older console? Should you hang on to your Xbox 360 or For most people the short answer is yes, and here's why:
DVD and Blu-ray player
Both the Xbox 360 and PlayStation 3 can play DVDs, with the latter also capable of playing Blu-ray discs. No need to purchase a DVD player for your second TV, save yourself some money and use your old console.
DVDs are the old-school way of watching movies; it's all about streaming nowadays. Well if that's your philosophy, you're in luck. Why purchase a Roku or Apple TV when you can just use your old consoles?
In addition to playing discs, both the Xbox 360 and PlayStation 3 have access to a range of streaming services, such as Netflix, YouTube, Crackle, and Amazon Instant Video. The Xbox 360 also has an exclusive HBO Go app, ensuring you will never miss another episode of Game of Thrones again -- assuming that you're an HBO subscriber, of course.
Let's not forget that these old consoles are still high-powered gaming machines. Everyone loves the classics, and with the Xbox One and PlayStation 4 unable to play older disc-based games, you can keep your Xbox 360 or PlayStation 3 to play older titles like Halo 3, , or .
Do you already own a DVD player or streaming box? Have you already beaten all of your old games? Well in that case, you can sell your old console for some cold, hard cash. Consoles can be traded in for cash and in-store credit at retailers like GameStop, although you will most likely get more selling it on eBay or Craigslist. The money you make from selling your system can then be used to purchase new games for your new console.
Before you get rid of your device, however, make sure you delete your personal data. This can be done on the Xbox 360 by going to Settings, clicking System, then Storage, followed by tapping the "Y" button on the controller, and selecting Format.
To do this on the PlayStation 3, enter Settings, select System Settings, and click the "Restore PS3 System" option -- note that this will delete everything on your system's hard drive.