Building first PC

Go with this build:

PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-8320 3.5GHz 8-Core Processor ($119.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ OutletPC)
Motherboard: Gigabyte GA-970A-UD3P ATX AM3+ Motherboard ($59.99 @ Newegg)
Memory: G.Skill Sniper 8GB (2 x 4GB) DDR3-1600 Memory ($64.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($53.59 @ Directron)
Video Card: MSI Radeon R9 280 3GB TWIN FROZR Video Card ($154.99 @ Newegg)
Case: BitFenix Shinobi Window ATX Mid Tower Case ($54.99 @ NCIX US)
Power Supply: XFX 550W 80+ Bronze Certified ATX Power Supply ($44.99 @ NCIX US)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($14.98 @ OutletPC)
Wireless Network Adapter: Rosewill RNX-N150HG 802.11b/g/n USB 2.0 Wi-Fi Adapter ($10.99 @ Amazon)
Total: $594.48
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2014-11-22 21:02 EST-0500

R9 280 clearly outperforms the GTX 760 AND is cheaper: http://youtu.be/Qim-asQrT_Y

You may need to overclock your CPU in order to prevent it from bottlenecking the GPU, so get a better cooler. The Hyper 212 EVO comes with some decent thermal paste.

Spend $5 more to double your original HDD storage.

Use dual channel RAM unless you plan on getting another 1x8GB RAM stick in the near future.

Selected a better quality PSU.

-Any questions?

While you do your build, make sure to look at YouTube building tutorials with the same case or motherboard or both if you're lucky. They help a TON, especially for first builds!
 
Solution
Be careful with fans. You can't use sleeve fans as top or bottom ones. They are not designed to be used horizontally. They will be loud and fail fast. If you want to add a bottom or top fan then look for ones with ball bearings.

Some areas to improve. Better GPU, more cooling, and enough power. 500W is too low.

PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-8320 3.5GHz 8-Core Processor ($119.99 @ Amazon)
CPU Cooler: Cooler Master Hyper 212 Plus 76.8 CFM Sleeve Bearing CPU Cooler ($19.99 @ Newegg)
Motherboard: Gigabyte GA-970A-UD3P ATX AM3+ Motherboard ($59.99 @ Newegg)
Memory: G.Skill Sniper 8GB (2 x 4GB) DDR3-1600 Memory ($64.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($53.59 @ Directron)
Video Card: Sapphire Radeon R9 280 3GB Dual-X Video Card ($164.99 @ Newegg)
Case: Thermaltake Commander G41 ATX Mid Tower Case ($29.99 @ Newegg)
Power Supply: EVGA 600B 600W 80+ Bronze Certified ATX Power Supply ($34.99 @ NCIX US)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($14.98 @ OutletPC)
Wireless Network Adapter: Rosewill RNX-N250PCe 802.11b/g/n PCI-Express x1 Wi-Fi Adapter ($16.99 @ Amazon)
Case Fan: Corsair Air Series AF120 Quiet Edition (2-Pack) 39.9 CFM 120mm Fans ($24.15 @ NCIX US)
Total: $589.64
 


I can't say that it will definitely bottleneck. I don't think it should, but if you see lag spikes that means you'll need to overclock it a little. For AMD, going with an FX-8350 should help. Although I think an R9 280 will be fine. Yesterday, a fellow apparently solved his lag spikes issues with his GTX 970 by overclocking his FX-8320. Granted, the GTX 970 significantly outperforms the R9 280, so it wouldn't be a fair assessment. However, I'm just throwing the idea out there in case you see anything.