Good $700 budget build

Solution
Why i made the changes:

You don't need a Z97 motherboard on a locked CPU - wasting money
PSU is not one of the most reliable and wattage is too much for your needs
GPU to CPU balance was wrong - you can even go with a 290 on that CPU but that totally exceeded your budget.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4460 3.2GHz Quad-Core Processor (£130.94 @ Aria PC)
Motherboard: Gigabyte GA-B85M-HD3 Micro ATX LGA1150 Motherboard (£48.51 @ Amazon UK)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1600 Memory (£58.69 @ Ebuyer)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive (£40.39 @ Aria PC)...
Why i made the changes:

You don't need a Z97 motherboard on a locked CPU - wasting money
PSU is not one of the most reliable and wattage is too much for your needs
GPU to CPU balance was wrong - you can even go with a 290 on that CPU but that totally exceeded your budget.

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4460 3.2GHz Quad-Core Processor (£130.94 @ Aria PC)
Motherboard: Gigabyte GA-B85M-HD3 Micro ATX LGA1150 Motherboard (£48.51 @ Amazon UK)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1600 Memory (£58.69 @ Ebuyer)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive (£40.39 @ Aria PC)
Video Card: PowerColor Radeon R9 285 2GB TurboDuo Video Card (£162.99 @ Ebuyer)
Case: Corsair 300R ATX Mid Tower Case (£59.98 @ Amazon UK)
Power Supply: EVGA 500W 80+ Bronze Certified ATX Power Supply (£36.98 @ Novatech)
Total: £538.48
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-01-08 03:00 GMT+0000
 
Solution