On , The Hobbit (Part 2) is coming out to own on DVD, blu-ray, etc... but don't buy it!
Much like Part 1, as well as the Lord of the Rings films, the theatrical version is being released first, followed by an extended edition, later in the year. The extended edition features much more comprehensive special features, as well as a longer version of the film, which will breathe more life into Tolkien's world. Return of the King was almost an all-new film, whereas the The Two Towers explained and elaborated on some of the changes made by Peter Jackson, as well as why they were made.
I haven't seen the extended edition of The Hobbit (Part 1) yet, as I'm holding out for an extended edition trilogy set of all The Hobbit films, which will most likely be all three extended editions that exist (then) merely boxed up together. Should it be released. If for whatever reason there isn't a box set of all 3 extended edition 2D blu-rays, I'll just buy them all separately all at once. The extended edition for Part 2 should arrive late in the year, most like November or December. I'll keep you posted here, but wanted to recommend not getting the April release in favour of a better one down the road.