I really don't understand limiting yourself to just 1 console for 8-10 years.
It's not like we are children and dependent on our parents buying them for us. We are working adults, we would probably change cars 2 or 3 times or more in the life cycle of a console, go on many holidays, so £250 spending during the course of that period isn't exactly extravagant.
Put aside £20 a month and you can have PS4 one Christmas and XB1 the next! Then buy the games that you want to your heart's content. There no sides to take.
Uncharted collection and Tomb Raider this Christmas! Bliss