Inside Miley Cyrus & Liam Hemsworth's Engagement: The Real Reason Why the Timing Is Finally Right for Them

Two were recently seen at a music festival in Australia

They say timing is everything…and that seems to be the case for Miley Cyrus and Liam Hemsworth.

E! News previously reported that the two have reconciled and are engaged once again after splitting a few years ago, and an insider is sharing why the couple's relationship is stronger now than it ever was before.

"Liam never stopped loving Miley. Liam and Miley's timing was just off the first time they were engaged, many things played into them calling it off," our insider shares. "They both needed to grow up and figure themselves out more."

Our source also dishes that Liam's family has been nothing but supportive of him dating the former Disney darling.

"Liam's family has always liked Miley but they supported Liam's decision at the time. They did feel that both of them were too young."

The source close to the couple adds, "They are in love and it's a different time now for them."

And while the two haven't set a wedding date just yet, Miley is certainly showing no signs of holding back when it comes to flaunting her 2012 engagement ring around on social media.

Between the latest selfies and her most recent outing in Malibu, the "Wrecking Ball" singer has been sporting her favorite accessory around town.

The ring isn't just your everyday run-of-the-mill stunning diamond sparkler either, it has a special meaning for the couple.

According to a separate source, the couple designed the ring together after careful consideration.

"Miley specifically wanted it set in gold. She didn't want platinum. She liked the gold because it was different and unique, like her. She didn't want anything classic or generic."

It looks like wedding bells are sooner than later for these two!