Mini ITX NAS/Server

I wrote a thread a while back, but didn't receive any replies, so most likely something in my information was wrong or confusing. I'm trying this again so here it goes.

I am planning to build my own Mini ITX NAS/Server. I have illustrated purpose of it here:

I was trying to make the setup in newegg myself, but I got really between products.

So far what I have added to my cart is:

Case: Fractal Design Node 304 $99.99
HDD: Seagate Barracuda 2tbx3$296.97 ($98.99 each)
Mobo: ASUS P8H77-I$105.99
CPU: Intel Core i3-2100 Sandy Bridge 3.1GHz $119.99

That totals for: $622.94
and that's without the PSU and memory. It's little bit above my budget, so I am asking for your help, where to cut down costs, and which PSU and memory to choose in order to suit my needs which are illustrated in picture above.
The storage will be set in RAID 5, and as now I'm only buying 3 2tb drives, I want to have option to purchase extra when these fill up. I'm not sure about my choice of motherboard as maybe there could be cheaper alternatives, and about i3 processor, do I really need it or I could get some cheaper one?

What else do I need to add extra to suit my needs? The documents I am working are mostly photoshop/illustrator based, so heavy files with constant saving. It would be nice to access the server to set the downloads, as it will be used as a leech/seed box and will be on 24/7.

Thank you.

P.S This is my first build and I have very little to none experience with ordering hardware for computers. Sorry for my noobiness. :)
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  1. Thanks for your reply. I didn't mention that I am planning to use FreeNAS and it requires a lot more RAM than this box have. And on the reviews I found out that many people are disappointed with speed. Anyways, I know that I want to build my own machine. I can upgrade the individual parts later on, and I'm not quite interested in premade nas boxes.
  2. Did you ever build this? How well does it work...
  3. This would be a nice FreeNAS build, includes all the parts you need for around $650.
    You'd need to buy a 16GB USB flash drive as the boot device and you're good to go.

    PCPartPicker part list / Price breakdown by merchant

    CPU: Intel Pentium G3460 3.5GHz Dual-Core Processor ($67.99 @ Amazon)
    Motherboard: Gigabyte GA-H97N-WIFI Mini ITX LGA1150 Motherboard ($110.99 @ B&H)
    Memory: Mushkin Essentials 16GB (2 x 8GB) DDR3-1600 Memory ($47.98 @ Newegg)
    Storage: Western Digital Red 2TB 3.5" 5400RPM Internal Hard Drive ($89.49 @ SuperBiiz)
    Storage: Western Digital Red 2TB 3.5" 5400RPM Internal Hard Drive ($89.49 @ SuperBiiz)
    Storage: Western Digital Red 2TB 3.5" 5400RPM Internal Hard Drive ($89.49 @ SuperBiiz)
    Case: Fractal Design Node 304 Mini ITX Tower Case ($84.99 @ Directron)
    Power Supply: SeaSonic G 550W 80+ Gold Certified Semi-Modular ATX Power Supply ($68.99 @ NCIX US)
    Total: $649.41
    Prices include shipping, taxes, and discounts when available
    Generated by PCPartPicker 2016-05-25 11:47 EDT-0400
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