I'd argue don't cheap out at all, and acquire high quality components over a period of time where it's affordable. You can build yourself a PC to last the next fifteen years instead of 3. I'm on a first generation i7 still playing modern games at moderate settings, because I poured $1700 into it back in 2011. I am finally upgrading this year to AMD's newest socket AM-5 with a 12 core chip, which will hopefully be useful for another decade or more.

The old PC even survive a lightning strike, the power supply I selected took it like a champ and sacrificed a bunch of MOVs to save the PC.