I'd suggest waiting until this semiconductor shortage has passed because most of that budget will get swallowed up by a graphics card right now. But as always - it depends on what you plan on playing or using it for in the near term. You can get away with an integrated build (no discrete graphics card), based on something like AMD's 3400G, if all you're going to do is play Fortnite or older/retro games on it.
Let us know what you plan on playing or using it for, and we can better advise.