That PSU is low quality. It will power the system, but I recommend better. Get a higher tier model from this list http://www.tomshardware.co.uk/forum/id-1804779/power-supply-unit-tier-list.html.
Also, for a gaming machine, you typically want to spend 1.5->2 times the cost of the CPU on the GPU. So if the CPU cost $200, you want a GPU that is $300. If you are using the computer for more GPU specific tasks (coding, video/media editing) then ignore that.
One more thing is you want at least 2 sticks of memory. It is better to have 2x4GB ram instead of 1x8GB so you have dual channel capabilities. Even if it is a tiny bit more expensive, the 2x4GB is better.