You should be fine then, I think the best you could do for $350 would be to get a r9 280x which will be about $200 good brand, Then not sure if you like intel but I like AMD's fx side of processor but for future upgrades I am not recommending am3+ boards anymore just because it is a dead socket atm but the 8350 is still one of my personal favs. So I think a 280x and then getting a nice h97 board or z97 depending on if you get the unlocked version of the i5 or not. So you will have about $150 leftover you could spend that all on a nice z97 board and buy a k edition later on for like $200 or you could do something like upgrade the an r9 290 get a $100 h97 or z97 board. Just depending on if you want to get an unlocked i5. But if you want to use your intel motherboard right away you could get a mid ranged h97 board and the pent g3258 processor for under $150 and then drop in an i5 later on. The gtx 970 strix from asus would about cap out your video card budget.
[PCPartPicker part list](http://pcpartpicker.com/p/qn7y8d) / [Price breakdown by merchant](http://pcpartpicker.com/p/qn7y8d/by_merchant/)
Type|Item|Price
:----|:----|:----
**CPU** | [Intel Pentium G3258 3.2GHz Dual-Core Processor](http://pcpartpicker.com/part/intel-cpu-bx80646g3258) | $69.98 @ OutletPC
**Motherboard** | [ASRock H97 Anniversary ATX LGA1150 Motherboard](http://pcpartpicker.com/part/asrock-motherboard-h97anniversary) | $74.78 @ Newegg
| | **Total**
| Prices include shipping, taxes, and discounts when available | $144.76
| Generated by PCPartPicker 2014-12-03 19:02 EST-0500 |
I kind of would would go towards getting a good motherboard like the
http://pcpartpicker.com/part/gigabyte-motherboard-gah97gaming3 then buying the processor for it later on. Also getting the r9 290 at the same time as the motherboard. Or if you plan on upgrading both the motherboard and processor later on you could get the gtx 970 but you would bottleneck by about 35% because of the processor if not more.