Watercooling won't make your room any cooler; in fact, quite the opposite. You'll have more transfer of heat from the inside of your computer to your room as a whole, plus you'll have a pump and other components generating heat as well. Water cooling doesn't magically destroy heat; it just moves it around more efficiently.

Your solution should be better room ventilation.

 

But it will cool down the parts right?

 

Yes, it will probably cool down the parts some as well. Do you have a full tower case, though? Also, decent watercooling kits start at about $200; less than that and you're risking getting a cheap set that will spring a leak and possibly fry your system.

 

I think I have a Mid-ATX Tower

 

I heard the Swiftech Apex Ultima is a good water cooling system. Should I get that?

 

I wouldn't bother just get a decent full tower case like the antec 1200.

Remember if water cooling goes wrong electricity and water dont like each other so it could be bad for you where as if a fan fails on an air cooled system you just replace the fan.

 

Can't you just get a non-static type of coolant?

 

Some people use Glycol, or mineral oil. However, I don't know if you need anything different to use those liquids instead, and for the added cost it may be better to just get a decent water cooling kit in the first place.

 

My wife's PC has a Swiftech kit and it works wonderfully.

 

I think a thorough understanding of thermodynamics is needed before you attempt to cool your room with a water cooling setup.
You're better off opening the window - or getting an AC system installed - basically a phase-change heatsink for your room!

Hey, I thought of a few things that might help to know, when trying to solve this temp issue of yours:

Where do you live? As far as weather is concerned, heat/cold and humidity are what I'm curious about.