Well, i've done what i'm doing for many years (over 20 years) and since i also help people here in Tom's Hardware forums, i've composed many builds within different price range/performance while also giving PC a nice color theme within my time.
I composed the build with 3x goals in mind:
1. Sub $1000 (without OS)
2. Gaming in high/ultra settings @ 1080p with 60+ FPS
3. Nice color theme (black & red in this case)
Now, parts description;
CPU: Intel - Core i3-8350K
For gaming, 4 core/threaded CPU is more than enough. Also i3-8350K is the value king with additional bonus of it having unlocked multiplier (meaning that you can overclock the CPU with Z-series MoBo). Compared to the 7th gen CPU, i3-8350K has equal performance to i5-7600K, while Core i3 being cheaper.
CPU Cooler: ARCTIC - Freezer 33 eSports ONE (Black/Red)
specs:
https://www.arctic.ac/eu_en/freezer-33-esports-one.html
While for medium-sized CPU cooler, i usually suggest Arctic Freezer 33 (same you picked) but for this build and to follow the black & red theme, i put in Freezer 33 eSports One CPU cooler that shares the black & red theme. Performance wise, it's same as Freezer 33.
While my initial thought was going with MSI Core Frozr L (
specs), making it the cherry on top in the build that also has MSI MoBo and GPU. But since Core Frozr L doesn't fit into Spec-04 case, i would've needed replace the good looking and affordable PC case with something else that would've been more expensive and/or hinder the airflow greatly. Still, Freezer 33 eSports One fits nicely with build color theme.
In my Skylake build, i have the predecessor of Freezer 33 in use known as Freezer i32 and it keeps my CPU idling at 26°C while max what i've seen out of it is 55°C during CinebenchR15.
MoBo: MSI - Z370 GAMING PLUS
specs:
https://www.msi.com/Motherboard/Z370-GAMING-PLUS.html
There aren't many MoBos which would offer black & red theme, at least with 8th gen CPU in use. Luckily, Gaming Plus is one of the few MoBos that do offer black & red theme with complementary red LEDs around the board. And since MoBo is Z-series, it also enables you to OC your K-series CPU. With Z370 chipset MoBo, you can also use up to 4000 Mhz RAM. Besides other features that go alongside with Z-series MoBos, MoBo also has 1x M.2 SSD slot if you plan to get NVMe drive in the future.
RAM: Corsair - Vengeance LPX 16 GB (2 x 8 GB) DDR4-3000
That LPX RAM is common RAM i suggest getting since it's affordable and also low-profile, meaning when you use big-sized CPU cooler (e.g Dark Rock Pro 3), RAM heatsinks won't get into the way of installing CPU cooler. Of course, LPX series RAM does come with 4 different colored heatsinks: black, white, red and blue. For this build, i picked black heatsinks since red heatsinks would've give the build too much red color. Besides, MoBo itself has plenty or red for eyecandy. For gaming and at today's standards, 16GB is suggested since latest AAA titles can use up to 12GB of RAM. And as far as RAM speed goes and wile Gaming Plus MoBo can support up to 4000 Mhz RAM, the 3000/3200 Mhz RAM has best price to performance ratio.
I too have 3000 Mhz RAM in use but mine is Kingston Savage which is really hard to find, especially outside EU.
SSD: Crucial - MX500 250GB
MX500 SSD is one of the best SSDs when it comes to the price to performance ratio. Also once you've had your OS on SSD, you do not want to go back having OS on HDD since HDDs are very slow compared to the SSDs. 250GB capacity is enough for OS and few most played games.
SSD vs HDD speed comparison:
https://www.youtube.com/watch?v=j84eEjP-RL4
I too have Crucial MX500 SSD in use with my Skylake build but mine is 1TB in size and i use it as secondary storage drive.
HDD: Western Digital - Caviar Blue 1TB
WD Blue 1TB is the most common HDD out there which offers solid performance at very affordable price. As far as HDD reliability goes, Seagate drives are the worst, followed by WD, Toshiba and HGST (Hitachi). Toshiba and HGST drives are usually more expensive and/or harder to find than WD drives.
Again, i too have WD Blue 1TB HDDs in use, 1x in Skylake and 2x in Haswell build.
GPU: MSI - GTX 1060 Gaming X 6G
specs:
https://www.msi.com/Graphics-card/GeForce-GTX-1060-GAMING-X-6G
To match the black & red theme within build, picked a Gaming X series GPU. GTX 1060 6GB GPU is best GPU used for 1080p gaming since it can handle everything you throw at it. Also, MSI Gaming X series GPU is the quietest running with lowest temps GTX 1060 when compared to the other manufacturer's GTX 1060 cards.
I too have MSI GTX 1060 Gaming X GPU in use but mine is 3GB version.
Case: Corsair - Carbide SPEC-04 TG
specs:
https://www.corsair.com/eu/en/Categories/Products/Cases/Carbide-Series%C2%AE-SPEC-04-Tempered-Glass-Mid-Tower-Gaming-Case-%E2%80%94-Black-Red/p/CC-9011117-WW
video review:
https://www.youtube.com/watch?v=yDf6EkF32yI
Since build theme is black & red and tempered glass side panels are currently a thing in the PC gaming world, i picked Corsair Spec-04 TG case for this build. Besides case being affordable, it also has the solid build quality of Corsair cases. Case also has partial front mesh without hindering frontal airflow much.
Of course, due to the Corsair's good build quality and nice looking cases, i also have 2x Corsair cases but mine are full-tower ATX cases; 760T V2 Black and 750D AirFlow Edition.
Since choosing a PC case is personal choice, feel free to switch it out with any other you like, as long as new case has CPU cooler clearance of at least 150mm.
PSU: Seasonic - Focus+ 550 (80+ Gold)
specs:
https://seasonic.com/focus-plus-gold
review:
http://www.jonnyguru.com/modules.php?name=NDReviews&op=Story&reid=529
Seasonic is one of the oldest PSU OEMs in the world and they have been in business for over 40 years (founded in 1975). Besides releasing PSUs under their own name, Seasonic also makes PSUs to other popular brands. To name the few: Corsair AX series, EVGA Supernova GS series, XFX TS series, NZXT Hale82 series. Also, Seasonic hasn't never made a bad quality PSU in their time (unless you count some noisy fans in their older models). PSU build quality wise, Seasonic is the leading OEM in the world. And depending on who you ask, either Seasonic or Super Flower is considered the best PSU OEM in the world.
Seasonic Focus+ is one of the newest PSU lines from Seasonic and PSU comes with 10 years of OEM warranty. Besides PSU itself having good build quality, it also offers fully-modular cables, 80+ Gold efficiency. Because PSU length is only 140mm, it's easy to install it even into the smallest cases that support ATX sized PSUs. For comparison, my Seasonic SSR-650TD length is 170mm.
Wattage wise, GTX 1060 is 120W, add the rest of the system to it at about 200W and max what your system can consume is 320W. With CPU/GPU OC, you could push the PC power consumption up to 400W, making 550W PSU more than enough.
All my 3 PCs: Skylake, Haswell and AMD are also powered by Seasonic.
OS: Microsoft - Windows 10 Home OEM 64-bit
Well, Win 10 is only Win you can buy legitimately at current date. Either get Win 10 or any GNU/Linux distro. Not much else to say here, only that Win 10 Pro is suited better to the businesses due to the business features it has over Win 10 Home.