That work is tedious. It involves buying each part separately: the CPU wateblock, the tubes, the radiator/s, the pump/s, and the reservoir. Also, it requires assembly. It might not be a good first time experience, especially because it's expensive and easy to get wrong.
If you really want watercooling for your CPU, then go with the H50. I'm actually considering it myself, if it wasn't for the fear of the pump failing or the significant difference between it and air coolers.