Okay, here is what my minimum build would be:
PCPartPicker part list:
http://au.pcpartpicker.com/p/3fuqN
Price breakdown by merchant: http://au.pcpartpicker.com/p/3fuqN/by_merchant/
Benchmarks: http://au.pcpartpicker.com/p/3fuqN/benchmarks/
CPU: Intel Pentium G3220 3.0GHz Dual-Core Processor ($69.00 @ PCCaseGear)
Motherboard: MSI H81M-P33 Micro ATX LGA1150 Motherboard ($63.00 @ CPL Online)
Memory: GeIL DRAGON 8GB (1 x 8GB) DDR3-1600 Memory ($89.00 @ Mwave Australia)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($69.00 @ CPL Online)
Video Card: Gigabyte GeForce GTX 750 1GB Video Card ($139.00 @ PCCaseGear)
Case: Fractal Design Core 1000 USB 3.0 MicroATX Mid Tower Case ($69.00 @ PLE Computers)
Power Supply: Silverstone Strider Essential 500W 80+ Certified ATX Power Supply ($59.00 @ CPL Online)
Optical Drive: LG GH24NSB0 DVD/CD Writer ($22.00 @ Mwave Australia)
Operating System: Microsoft Windows 8.1 (OEM) (64-bit) ($115.00 @ CPL Online)
Total: $694.00
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-03-24 22:10 EST+1100)
This would be my midrange:
PCPartPicker part list:
http://au.pcpartpicker.com/p/3fusP
Price breakdown by merchant: http://au.pcpartpicker.com/p/3fusP/by_merchant/
Benchmarks: http://au.pcpartpicker.com/p/3fusP/benchmarks/
CPU: Intel Core i3-4340 3.6GHz Dual-Core Processor ($179.00 @ CPL Online)
Motherboard: ASRock H81M-ITX Mini ITX LGA1150 Motherboard ($83.00 @ CPL Online)
Memory: G.Skill Value 8GB (1 x 8GB) DDR3-1600 Memory ($92.00 @ CPL Online)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($69.00 @ PCCaseGear)
Video Card: Gigabyte GeForce GTX 750 Ti 2GB Video Card ($199.00 @ CPL Online)
Case: Fractal Design Core 1000 USB 3.0 MicroATX Mid Tower Case ($69.00 @ PLE Computers)
Power Supply: Antec High Current Gamer 520W 80+ Bronze Certified ATX Power Supply ($97.00 @ CPL Online)
Optical Drive: LG GH24NSB0 DVD/CD Writer ($22.00 @ PCCaseGear)
Operating System: Microsoft Windows 8.1 (OEM) (64-bit) ($115.00 @ CPL Online)
Total: $925.00
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-03-24 22:12 EST+1100)
This would be my premium:
PCPartPicker part list:
http://au.pcpartpicker.com/p/3fuvY
Price breakdown by merchant: http://au.pcpartpicker.com/p/3fuvY/by_merchant/
Benchmarks: http://au.pcpartpicker.com/p/3fuvY/benchmarks/
CPU: Intel Core i5-4670 3.4GHz Quad-Core Processor ($249.00 @ PCCaseGear)
CPU Cooler: Corsair H60 54.0 CFM Liquid CPU Cooler ($95.00 @ PLE Computers)
Motherboard: ASRock H81M-ITX Mini ITX LGA1150 Motherboard ($83.00 @ CPL Online)
Memory: G.Skill Value 8GB (1 x 8GB) DDR3-1600 Memory ($92.00 @ CPL Online)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($69.00 @ PCCaseGear)
Video Card: Gigabyte GeForce GTX 760 4GB Video Card ($365.00 @ PCCaseGear)
Case: Fractal Design Core 1000 USB 3.0 MicroATX Mid Tower Case ($69.00 @ PLE Computers)
Power Supply: Antec High Current Gamer 520W 80+ Bronze Certified ATX Power Supply ($97.00 @ CPL Online)
Optical Drive: LG GH24NSB0 DVD/CD Writer ($22.00 @ PCCaseGear)
Operating System: Microsoft Windows 8.1 (OEM) (64-bit) ($115.00 @ CPL Online)
Case Fan: Noctua NF-F12 PWM 55.0 CFM 120mm Fan ($28.00 @ CPL Online)
Case Fan: Noctua NF-F12 PWM 55.0 CFM 120mm Fan ($28.00 @ CPL Online)
Case Fan: Noctua NF-F12 PWM 55.0 CFM 120mm Fan ($28.00 @ CPL Online)
Case Fan: Noctua NF-F12 PWM 55.0 CFM 120mm Fan ($28.00 @ CPL Online)
Total: $1368.00
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-03-24 22:16 EST+1100)
Obviously, the premium build is unnecessary, however, it does allow for multiple monitors, some gaming and some processor heavy work if it ever arises.
If you're really tight for cash, you could downgrade to 4GB of ram, get a super cheap case and remove the DVD drive. (Plus you could use a copy of any OS you have around.)