Dude, if you try to build a pc at this price range (I am doing so this christmas) you will be able to play a lot of modern games at good fps on lower settings (obviously not witcher 3 or far cry 4). For the triple A titles, you will have a hard time getting playable fps on low settings at 1080p. I will only be playing robocraft, minecraft, trove... not very demanding, and school work. I will however be upgrading in a year to a much better cpu and gpu (aprox. 300$ gpu and 200$ cpu) to play titanfall and far cry. If you plan to earn a LOT of money later and want a basis in building, go for a very upgradeable build now, but remember that in the long run it will cost a bit more. It all comes down to: how badly do you want a pc? Can you wait for next summer, get a job and work hard a few months and then get an EPIC build, or do you want/need it now?
Anyway, I hope this helps you decide whether to go pre built, refurbished or console.