I think selling a computer just because AppleCare is due to expire is a bit paranoid. Many Macs from decades ago are still chugging along just fine and will continue to do so for years to come. Like with all things, no one can predict when something might fail. Usage can be a predictor... like you drop things... spill things... tend to tinker under the hood... like to visit sites that are more on the risqué.
What we do know is that the new ARM based Macs are not Windows compatible (maybe they will be at some point, maybe not), so if you have any need for the Windows platform at all, you will want to get an INTEL based Mac.
Based on Apple's current SoC design in the new M1 Macs, it is conceivable that the new IMacs will also have a closed architecture that is not currently evident in the INTEL Macs. Namely, SSD soldered to the system board. RAM also soldered to the system board. Basically if it's inside the case, it's staying there for all perpetuity... with nil an upgrade in its future. The INTEL Macs can swap out SSD and RAM and in some cases GPU. SoC design puts everything in a single design... that's what provides the massive performance boost over current designs. Separate the components out and it might as well be the old design.
If you decide to get an INTEL Mac now, get it with the least amount of RAM pre-installed. Purchase additional RAM from a third-party. You will save a mint. Please be forewarned that the latest INTEL iMac was very finicky about mixing RAM so you literally had to replace the existing RAM with new RAM if you wanted to boost the RAM up. External SSDs may be a cheaper option to opting for a beefy internal SSD from Apple. The theme here is Apple overcharges for stuff. Which is why the new ARM Macs are a juicy market to them... you can't NOT buy the top of the line because you can't upgrade anything in them. INTEL Macs are the last in the line of user upgradeable computers... from what we can see.
Decide what you actually need, forget about all the hoopla and hype around the ARM Macs... most users are sold on hype alone. When these things are old news, that's when real decisions are made and not impulse purchasing because of the hype meter. Plenty of folks got bit by the first round of ARM Macs... they were too focused on speed to see that there were real issues with peripheral devices... annoyances that made the speed far less appealing in the end when compared to display glitches and bluetooth issues.
You know what you need. You know your budget. You'd be surprised how long you can actually wait for something you need versus something you want. Know the difference.