You broke one of the two cardinal rules when seeking buying advice. The first you met - you stated your budget and that is great!
However, you failed to state the primary purpose for this computer. Will it be used primarily for work and school? Monitoring and updating Facebook? Paying bills, surfing the Internet and checking email? Gaming?
Speaking of your budget, while $700 is certainly doable, when the keyboard, mouse and monitor must come out of that too, that budget is pretty tight. Plus, it is important to understand new computers typically require their own Windows license. Since most Windows licenses are OEM/System Builders licenses, and since those OEM/SB licenses cannot, under
any circumstances,
legally be transferred to a new computer, you likely need to budget for a new Windows license too - or plan on going with one of the many capable and free versions of Linux. That means you cannot just take an old drive that includes Windows out of an old computer, put it in a new computer and be good to go
legally.
Also, IMO, your SSD is too small. While technically, 240GB will support Windows, all your drivers, and most applications, it will not take long for free disk space to become limited. That
will impact performance and can help accelerate aging of the SSD. I recommend at least 500GB. That will give you lots of room for the OS, drivers, and all your applications (except major games) and allow optimal and efficient SSD TRIM and wear leveling operations - essential to ensure maximum life and performance out of your SSDs.
That said, your question was about compatibility. Fortunately, when it comes to building our own PCs, the ATX Form Factor standard helps ensure components will physically fit together and connect properly in terms of electrical connections and voltages.
As for other compatibility issues, if you look at your motherboard's support page
here, you will see memory and CPU QVLs (qualified vendors lists). These are lists of components the board maker has tested and verified to be compatible with that specific board. There are too many RAM makers and models for board makers to test them all so you don't have to buy listed RAM. But you should buy RAM with the same specs as listed RAM to ensure compatibility.
Since EVERYTHING inside the case depends on good, clean reliable power, it is a mistake to cut corners in the budget on the power supply. So do make sure you get a decent one from a reliable maker. I like EVGA and Seasonic. Read several reviews from the review sites, including
this one. Do NOT rely on user reviews.
Also, it is important to understand 80 PLUS certification provides absolutely zero indication of a PSU's quality or reliability. It is about efficiency only. And one of the key requirements is for 80 PLUS certified PSUs to be at least 80% efficient from minimum load up to 100% load. The more efficient a PSU is, the less wasted energy there is, and, perhaps more importantly, the less generated heat there is. I generally recommend at least Bronze but prefer Gold. Unless you find a heavily discounted price, Platinum and Titanium PSUs are not worth the extra costs as it can take years to make up the difference in costs with energy savings.
There is nothing wrong with non-modular (wired) PSUs. In fact, there are fewer parts and obviously fewer connections that introduce additional potentials for problems. But the downside is that wired PSUs greatly increase the need for good cable management. And that is where a quality case comes in.
IMO, a quality PSU along with a quality case make up the foundation for a quality computer that can support you through
many years of upgrades. A decent case will support many large (120mm or larger - preferably 140mm) case fans. It will be "true" - that is, the bends in the sheet metal will be exactly 90.0° to ensure all 4 feet sit squarely on the floor - the case will not wobble or put undue stress on the motherboard and other mounted devices. The cut edges of the sheet metal will be "finished". That is, they will be grounded smooth or rolled to prevent shredding your knuckles and wire insulation. There will be good cable management features. And a must for me is the case will have removeable, washable air filters.
So my advice, especially since it looks like a keyboard, mouse, monitor and Windows licenses are all needed too, is wait and try to build up your budget a little more. $1000 will provide a lot more options. And if you buy a quality PSU and case now, along with a full retail license of Windows, and a decent monitor, those are 4 items that can carry you through years of updates without having to buy new each time - unless you want to, of course. That's the beauty of building your own. So many options!