i7-4700k, 16g 1866 mhz ram, EVGA GTX 980, and ssd hard drives.
The oculus rift CV1 requires a good CPU (which you have), 16 g of ram, and a GTX 970 or better. So you need more RAM and a better graphics card.
I'd wait a little since the 1080 graphic cards are hitting the market it should make the 980ti drop a bit in price.