Re: Xbox One vs PS4
Whether or not you would go with an Xbox 360 or XB1 depends on how long you plan to go before getting a new console. Microsoft plans on supporting the 360 for at least another couple years, but they will stop developing for it in the foreseeable future.
In terms of XB1 advances over the 360, game wise it isn't much more than improved graphics and improved Kinect functionality. The game selection isn't as great right now on XB1, but it will have a solid selection within the next few years. The 360 currently has a plethora of great games that are easy to find and affordable.
No game disk that is released specifically for the XB1 will run on the 360, and no 360 game disk will run on the XB1. For the next year or two, a good number of games released for the XB1 will also be released for the 360, but not every game will.
Minecraft will be downloadable on both consoles, but GTA V is only available on the 360 right now.
Overall, I think the Xbox 360 gives you the better bang for your buck today, and has a selection of games that you or your son won't get bored with quickly. I think based on your situation, the 360 will be fine for now.
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