Welcome, thisonetime! My best advice is do it for your health. You will feel so much better in so many ways!
Also, don't get too hung up on the final weight. At your height, anything below 150 is normal, so you may decided that you like how you look and feel before you've lost fifty pounds.
And, in a bit of contradiction to the above advice, do it now. The loose skin problem is only going to get worse as your age. I'm fifty. I lost over 70 pounds and loose skin isn't bugging me. It's only in a couple of spots that are easily covered by clothes. And the only person who sees me naked isn't complaining at all about my new body.