Very few people are in a position to buy a PC without considering what it will cost them. You need to have a clear vision of the intended use otherwise is is very likely you will spend more money than you should have for features you do not need.
It is important not to overestimate your requirements and try not to include any allowance for obsolescence. The maximum time-frame you should allow for with your new computer should be about 3 to 4 years. If you end up keeping it for longer then that is a bonus. Spending extra money to increase your computer's longevity, is a waste of money. Computer technology change is increasing all the time and what that means is that in 3 to 4 years, you will no doubt want the new technology - but unfortunately, it will be impractical to modify your existing computer to include it.
If you are likely to be spending most of your time word processing, surfing the internet and emailing friends then the reality is that for this 'basic use' the lower end of the price/feature/power range is adequate and the PC should last you 3 or 4 years.
It is important to budget for the purchase of the computer's operating system (for example Windows XP home) and application software (for example, Microsoft Office). Without the operating system, the computer is really just plastic and metal. It is just as important as the computer hardware itself. Without it, you cannot communicate with the PC. If it not installed correctly, you will probably have problems when using the computer.
If however, you intend to use the PC to run Computer Assisted Design (CAD) or 3D software; or play the highly graphical games; or use the computer to run video editing; you may need a computer in the middle to upper range perhaps with a larger sized screen.
Laptops are comparatively cheaper than they once were and may fall into your budget. Wireless internet access is now available and with longer battery life, the laptop is now truly portable and versatile.