first timer needs advice

for what purpose is this build? that will greatly affect what parts you need and what you do not need.

CPU: Intel Core I5-4690K 3.5GHz Quad-Core Processor
--- fine for gaming. no need to go i7 unless you were video editing or doing 3d modeling.

CPU Cooler: Cooler Master Nepton 280L 122.5 CFM Liquid CPU Cooler
--- no need to go water cooling unless you wanted to overclock significantly. a hyper 212 evo is just fine for stock & mild overclocks.

Motherboard: Asus Sabertooth Z87 ATX LGA1150
--- unless you need the features in this board you could setting for a z97-a for much cheaper and still retain overclocking ability

Memory: Corsair Vengeance Pro 16GB (2x8GB) DDR3-2400 Memory
--- there is no need for 16gb ram unless you have a need for it such as 3d modeling, video editing, etcetera. also there is no reason for 2400mhz except for extreme overclocking. for $72 you could get 2x4 1600mhz 9cas or 2x4 1866mhz 9cas. the difference between ram speed is also quite minimal. the extra money woudl be better spent elsewhere.

Storage: Crucial MX100 256GB 2.5" Solid State Drive
--- 256 is typically fine for a laptop or secondary system but isnt enough for a primary. i would suggest either a 512/500 or getting a hdd to back it up. also i would buy a samsung 840evo instead for reliability. for hard drives a caviar blue or barracuda work great.

Video Card: EVGA GeForce GTX 760 4GB Dual FTW ACX Video Card
--- if you intend to be gaming this should be a gtx770/r9-280x at minimum for your kind of budget. you can even fit a gtx780 on budget if you fiddled.

Case: Cooler Master HAF XB EVO ATX Desktop Case
--- decent case and your choice. if you want a small case it might be worthwhile to go with something like the cm elite 130 or corsair 350d instead though. the end decision is up to your sense of aesthetics.

Power Supply: Corsair RM 650W 80+ Gold Certified Fully-Modular ATX Power Supply
--- go with a 550w minimum xfx, seasonic, antec hgc or corsair HX/AX series. you want a good psu not something with poor quality capxon caps like the RM series has on the one side.

Optical Drive: LG GH24NSB0 DVD/CD Writer
--- no comment.

Operating System: Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit)
--- no comment.

Monitor: Asus VG248QE 24"
--- no comment.