I would second Igor's suggestion to try it out before you spend any money. Having said that, you probably will need an upgrade if you want a smooth VR experience. Your CPU is getting a little long in the tooth, your GPU predates most VR implementations, and the nature of VR makes any stutters or hitches much more disruptive than they are when playing on a monitor. My prediction is the games will run, but the experience probably won't be nice.
Main System: i7-8700K, ASUS ROG STRIX Z370-E, 16 GB DDR4 3200 RAM, MSI GTX 1080 TI, 1 TB CRUCIAL MX500, Corsair 550D
HTPC: I5-4460, ASUS H97M-E, 8 GB RAM, GTX 970, CRUCIAL 256GB MX100, SILVERSTONE GD09B