Any time you find a better guitar and can afford it, get it by all means necessary. Even if you have to trade in another guitar at a loss.
You will kick yourself if it's a good deal and a good guitar and you pass it up. I missed out on a very nice Spruce C7 and I'm never gonna live it down. haha.
However, if you can't afford it don't sweat it.. There is a good chance the guitar you have is good enough to study on for many years. As is my case.. I really shouldn't lose sleep over missing the C7, as I couldn't truly afford it and another one will come up eventually when I can.
To be quite honest, I think your gear goal should really be to save up and eventually get a lightly built, not overly-finished, solid-top, and you will notice another big leap forward in sound from the sound of laminate guitars. From there forward.. guitars mostly all sound pretty phenomenal.. Even a cheaper used solid top can really shock with some good sound. So keep your eyes peeled. I managed to get an entry level solid top cordoba for 30 bucks.
Always keep one laminate guitar though.. It's good to have one as a beater! I still play one all the time.
Cordoba CP110: RC Recital RL50 MT:Battered Flesh
Workin' on: Sor Op. 60 No. 2