Everyone says that we should wait till the first day of class to buy books.
Does this apply for second trm classes too? Should I wait till the first day of second term to buy books for classes

Yup. It's just best to wait till after first lecture to see which edition/years textbook the prof accepts. In some cases the prof may even say a previous edition is fine (save some money!). Same goes for 2nd term. You might even change your courses, so there's no point in getting them now.

Definitely wait until second semester to get those books, a lot can change between now and then and you don't want to be stuck with a book that you don't need an can't return.

Also, the second semester booklist isn't even out yet. I'll most likely appear near the end of November.

Many profs haven't even been hired yet or officially told that they're teaching a course, let alone decided on the textbook. Even if they had, have you been in the bookstore recently?! Can you imagine how completely impossible it would be to fit all of the second-term books in there in addition to what we already have? Haha