According to the Wall Street Journal, there are three key factors to consider before buying an Apple Inc. (NASDAQ: AAPL) smartphone.

First, future iPhone devices will always be better than current models. Second, Apple will always try to sell its iPhone devices and, finally, iPhone prices tend to drop in September when newer models are announced.

With that said, the Wall Street Journal's Joanna Stern has a golden rule for iPhone users — and it is a very simple one. Don't buy an iPhone now; just wait it out a few more months.

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Stern suggested even minor improvements to the future iPhone will be enough for Apple to re-claim the title from SAMSUNG ELECTRONIC KRW5000 (OTC: SSNLF)'s Galaxy S7 as being the world's best smartphone.

The next iPhone is expected to be thinner, more water resistant and have substantial camera improvements, while getting rid of the headphone port.

The phone itself is unlikely to feature a radical redesign but a 256GB storage model could be offered. It is also unknown if the battery life will be improved.

"As we move away from frequent upgrades, each new model now is going to have two to three main selling points," Neil Cybart, an Apple analyst, told the Wall Street Journal.

Cybart added that the "selling points" in the upcoming iPhone release will be the improved water resistance profile and a thinner design.

iPhone users looking to upgrade or first-time iPhone buyers have a few choices. Wait until September and hope for a good deal on an older device or hope that the new release will be compelling enough to buy.

Either way, waiting is the hardest part.

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