NEED PC Build Help!

[Strawwbury]

Hello. I'll start off by saying I am extremely new to PC building, but was told I would get the most bang for my buck if I built my own. So I have almost 0 experience. I need a fast and smooth computer mainly for xbox recording, video editing, photoshop, and uploading/rendering. Also needs to be able to run multiple programs at once smoothly. My budget is $500-700, but the cheaper the better. Let me know which parts would be the most important for my build, which ones wouldn't, etc. Also, I don't even know where to build a PC at to begin with. Thanks for all advice and info in advance. Please work with me here

 

[Cisco001]

something like this?

PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-8320 3.5GHz 8-Core Processor ($125.99 @ SuperBiiz)
Motherboard: MSI 970 GAMING ATX AM3+ Motherboard ($87.99 @ Newegg)
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($49.99 @ Newegg)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($44.10 @ SuperBiiz)
Video Card: Gigabyte GeForce GTX 960 2GB Video Card ($187.99 @ SuperBiiz)
Case: Antec One ATX Mid Tower Case ($29.99 @ Newegg)
Power Supply: Corsair Builder 500W 80+ Bronze Certified ATX Power Supply ($29.99 @ Newegg)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($12.99 @ Newegg)
Operating System: Microsoft Windows 8.1 (OEM) (64-bit) ($84.45 @ OutletPC)
Total: $653.48
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-05-20 04:10 EDT-0400

Edit: your probably need to get a game capture box to record your xbox.
something like these
http://www.newegg.com/Product/Produ...H&Description=HD+Game+Capture&N=-1&isNodeId=1