just about, but if you up your budjet by a few 100 to say 1500, then yes , you can build a quality machine.

300-500 for motors, controllers BOBs and electricals excluding spindle and controller ( 200-300+)

about the same for linear components ( bearings,slides, screws )

there are about minimum, excluding the frame, if you look about BUT TAKE ADVISE BEFORE YOU BUY ELECTRONICS. BUILD THE FRAME FIRST.

If you know anyone that can weild, you can build a good frame cheaply enough out of steel, just use ally were required