No step on the property ladder is as important or exciting as the first.

It may sound like a daunting prospect, but it's not as hard as it sounds when you know how. Take 10 minutes to get your head around the process.

Before you begin: How much can you borrow?
Work out how much you'll be able to afford on a property by entering your salary details into anonline mortgage calculator. online mortgage calculator. Typically, you'll be able to borrow three and a half times an individual salary, or two and a half times the joint income of a couple. Add this to any cash savings you have, and that's what you can spend.

Some lenders now calculate how much you can borrow according to 'affordability', taking into account any debts or dependants you have. In all cases, it's vital to be realistic; borrowing so much that you can never have a night out again is no one's idea of fun.

Step 1: Do your budget
For a mortgage lender to agree to a mortgage, you'll usually need to contribute a deposit of around 10% of the total property price. Because of the current economic climate, some lenders may require a bit more than this.

If you don't have the cash for a deposit, can you afford to borrow some? Parents? A loan? Remember that this will be an additional debt to pay off. In addition, all buyers need to budget for the other costs of buying a property:
- Stamp duty: If the house you are planning to buy is £175,000 or less you don't pay any Stamp Duty Land Tax at all. If it's more, you will have to pay between 1% and 4% of the whole purchase price.

- Solicitor's fees, land registry and legal searches: This generally adds around £1,100 to your bill
- Surveyor's fees: A homebuyer's survey generally costs £300

Step 2: Get a mortgage agreement in principle (AIP)
A lender won't make you a formal mortgage offer until they've valued the property, but a conditional offer (an AIP) means you can start looking at properties and make an offer.

Decide on which kind of mortgage product you want and see what your own bank offers. They know you best, which may speed up the application process, but if it's not a competitive deal, don't be swayed. Use a mortgage comparison website and talk to a mortgage advisor. Ask up front if they are fully independent and about how they take their fee.

You can often get an AIP on the phone or online. Ask for written confirmation. Your AIP will be valid for a fixed period, during which time you can use it to support any offer you make on a property.

Step 3: Instruct a solicitor
You'll need a solicitor to carry out the legalities of your purchase. Get one early to save time later. Ask local friends, family and estate agents for recommendations.

Your solicitor will carry out all the legal searches on the property you're after, and handle the contracts, deeds, and transferring of all the money and fees.

Step 4: Start looking
On the web you can find sites that gather together all the properties currently on sale for a whole area. You can also look up the purchase price of the last property sold in a street you like, or check the average value of property for an individual area (plus projected increase/decrease).

Visit estate agents in the area you're looking at and register with as many as possible. Be specific about what you want, but realistic about your budget. Show them you're serious; mention your AIP and keep in regular contact with the ones you like best.

Step 4: Make an offer
When you find a place you want, visit a second time with someone with experience of property. Run the taps, look at the state of the kitchen and bathroom (the costliest rooms to rework), and ask about central heating.

Tell the seller you're interested, and ask if they'll take the property off the market if your offer is accepted (they aren't bound to, and you could easily be outbid or 'gazumped' otherwise).

When considering how much to offer, take into account prices of similar properties. Ask the agent or seller how long the property has been on the market and how much interest there's been.

As a first-time buyer it's often worth offering below the asking price because, with no chain, you can move quickly, which is often very attractive to a seller. It's good to start low, but always know from the start how high you're prepared to go.

Ask what's included before making your offer (curtains, light fittings, carpet, etc) and make a list to protect yourself later. Confirm your offer in writing, copying in your solicitor, making it clear the offer is subject to contract and survey.

If your offer is accepted, the property is now 'under offer'. You have no legal protection until contracts are exchanged but check that the property has been taken off the market.

Step 5: Get a confirmed mortgage
Offer accepted, you now need your mortgage confirmed. You'll need to show:
- Your passport (as proof of identity)
- At least three months' pay slips
- At least three months' bank statements
- Your bank details
- Your employer details

Step 6: Get the survey done
While your solicitor gets on with the legalities of transferring ownership, your mortgage lender will now conduct their survey of the property. You'll want to carry out your own one too.

Currently, surveys come in three grades and prices: for a first property, most buyers opt for the middle, Homebuyers survey. Any issues your surveyor raises about the property should be addressed to the seller through their estate agent. There may be an opportunity here to negotiate on the property price for work you discover that needs doing.

Step 7: Exchange contracts
Once the searches are complete and contracts are drawn up, you can exchange contracts, making the sale legally binding. Pull out now and you'll lose your deposit. The date for completing the sale is now agreed.

Step 8: Complete your purchase
On the morning of completion, your solicitor will transfer the rest of the money from your mortgage lender to the vendor, and pay your stamp duty on your behalf. You're in!