Looking for Help Designing an Affordable and Long-Lasting Build (~$1500 max)

With the new generation of consoles finally coming out, I thought I'd finally make the switch, but I've been having trouble deciding exactly what to do and how. Most of the prebuilts I've seen appear overpriced, so I thought I'd look into building my own. However, I'm not well versed with pc gaming, and what specs are most important, so I thought I'd seek help from the best.

Any help or advice with creating a build would be greatly appreciated!

Approximate Purchase Date: Within the next month.

Budget Range: ~$1500 after rebates, including shipping.

System Usage from Most to Least Important: Gaming is the only consideration.

Are you buying a monitor: No.

Do you need to buy OS: Yes.

Preferred Website(s) for Parts: No preference, though recommendations for where to purchase parts would be greatly appreciated.

Location: Provo, Utah, USA.

Parts Preferences: None, simply looking for the best parts at the best price. I know that for certain parts (such as the video card) quality can be difficult to ascertain from the specs alone, so any advice about brands would be extremely helpful.

Overclocking: Maybe, though I'm concerned about cooling and sustainability.

SLI or Crossfire: Maybe, if someone can give me a compelling reason to do so.

Additional Comments: My biggest concerns are affordability and longevity. I'm looking for a system that can be reasonably expected to play most releases of the next 4-5 years without the need for upgrades. Basically, I would like to be able to play '13-'18 releases without needing to upgrade excessively. I don't know if such a build exists on my budget, but in practice I simply mean I'd like to put most my money into the parts that will age well.

Graphics are important, but do not need to be anywhere near optimized. Simply looking for my games to look good, not necessarily stunning. FPS is a bigger deal for me, but a bit of slow down is fine from time to time. Also, I do not play multiplayer games (or at least use any multiplayer functionality). Not sure if that's important, but just FYI.

Sorry for the mountain of text, just trying to include all relevant information. If any more info is required, please don't hesitate to ask. Thanks in advance to anyone willing to provide any advice or recommendations.
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More about designing affordable long lasting build 1500 max
  1. Best answer
    PCPartPicker part list / Price breakdown by merchant / Benchmarks

    CPU: Intel Core i5-4670K 3.4GHz Quad-Core Processor ($239.99 @ Newegg)
    CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($29.98 @ OutletPC)
    Motherboard: Gigabyte GA-Z87X-UD3H ATX LGA1150 Motherboard ($159.99 @ Newegg)
    Memory: Crucial Ballistix Sport 8GB (2 x 4GB) DDR3-1600 Memory ($66.99 @ Newegg)
    Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($59.94 @ OutletPC)
    Video Card: Asus GeForce GTX 780 Ti 3GB Video Card ($705.91 @ Newegg)
    Case: Corsair 500R Black ATX Mid Tower Case ($69.99 @ Newegg)
    Power Supply: SeaSonic Platinum 860W 80 PLUS Platinum Certified ATX12V / EPS12V Power Supply ($129.99 @ Newegg)
    Optical Drive: LG GH24NS95 DVD/CD Writer ($15.00 @ Newegg)
    Operating System: Microsoft Windows 8.1 - OEM (64-bit) ($98.98 @ OutletPC)
    Total: $1551.76
    (Prices include shipping, taxes, and discounts when available.)
    (Generated by PCPartPicker 2013-11-11 03:36 EST-0500)

    You can add a second GTX 780 ti later down the road.
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