Instead of 48" 4K, why not go 120" 1080p. Projectors aren't that expensive anymore and quite good for gaming nowadays. For example Optoma GT1080 currently $699
http://www.projectorcentral.com/optoma_gt1080_projector_review.htm
http://www.bestbuy.com/site/optoma-1080p-dlp-gaming-projector-white/1584026.p?id=1219503833396&skuId=1584026

4K console gaming isn't going to happen anytime soon. Current 4K UHD blu-rays are mostly uprezzed from 2K masters, no real improvements in resolution, only color reproduction. However HDR standards are not yet set in stone with various formats competing, and current displays can't even fully render rec.2020 yet.

Buying an affordable 4K TV now, will very likely set you up with one that won't be able to display the full 4K blu-ray spec. That 48" Samsung doesn't advertise with HDR nor 10 bit color, meaning the best feature of 4K blu-ray, the increased color range, can't be displayed.

If you really want a 4K tv now, make sure it has HDMI 2.0, HDCP 2.2, HDR and a 10 bit panel.
http://www.wired.com/2016/01/what-is-hdr-tv/
Their advice: Sounds Messy. Should I Wait? Yeah, probably.

The PS4 looks great on a 4k TV as is. It's fucking fantastic! Whenever I visit my parents, I bring my PS4 so I can play a little bit on it. The color fidelity is great, and it actually upscales. It's not native, obvious, but it still looks really good.

I have heard that some 4k TV's have a lot of jaggies with consoles. I can confirm this because I've noticed it on some TV's. That being said the TV I play on does not have this issue. A word of advice is to make sure you have a flat-screen TV, otherwise FPS games are hard to play. If you prefer 3rd person games or other things that are not FPS that rely on precision (the curve make the aiming considerably more touchy), then get a curved TV. If not, stick with a flat-screen.

lol same can be said if you sitting far enough back it will look good too. I play 480p stuff on a 55inch. Because I am like 3-4meters away it is very watchable. Stand half a meter form the screen and u can see the imperfections.  

I suggest you buy a good OLED TV. Only LG for now.

1080p is enough for console gaming. If you want 4k gaming, then do it on the PC.

Not a good idea yet, they still have issues with burn in. At least according to cnet
http://www.cnet.com/products/lg-eg9600/
The manual reads: "If a fixed image displays on the TV for a long period of time, it will...become a permanent disfigurement on the screen. This...burn-in is not covered by the warranty." It advises owners to avoid displaying 4:3 aspect ratio images and other fixed images for longer than an hour at a time. I didn't actually "test" burn-in in my review sample, but it didn't seem to retain static images as badly as plasmas I've tested in the past.

It depends of how long it takes you to upgrade. If I were you, I would go with the 4k tv so you dont have to upgrade for a very long time.

hisense has cheap 4k tvs

Go with the option that gives you best pixel density.

You'll notice far more jaggies on a 65" 1080p than you would on a smaller 1080p screen, or even on a 32" 720p screen. If you're going for a screen larger than 60", I think 4K merits the consideration.

Was not aware of that, thanks for the tip. Guess I know who to bother whenever I need to buy a new display!
It's always best to wait with technology, but sometimes you have to buy something and if I had to right now I would get an OLED.

Still like you mentioned before, waiting for 4K/HDR/etc to be more extent, mainstream and standard would be the best option to go.

And better get the flat version, curved is just marketing.
http://www.cnet.com/products/lg-ef9500/