Buying yourself a home is one very big step to take and before you take that step, there are a number of questions you need to ask yourself to find out if you are ready for such a step.

If you're buying your first flat, and moving out of shared or rented accommodation, you'll probably need some white goods and other electrical appliances, and you won't want to be spending too much.

Students and other young people planning to rent a home for the first time are being urged to follow a new 10 point guide to avoiding the common pitfalls of the private rental market.

With home ownership out of reach for those on low incomes and long waiting lists for social housing, many young people have no choice but to turn to private renting to find accommodation.

The new guide has been produced by LACORS* (Local Authorities Coordinators of Regulatory Services) and is being promoted by Plymouth City Council.

With property prices as high as they are, average house prices in the UK are currently reported as £159,623 and average earnings - for those in employment of course - at £2800 per month [only £1500 for agricultural workers] or £31.5k per annum, taking on the responsibility of a mortgage that would eat up a large chunk of your sole earned average income is a significant financial consideration. Unless you are part of a partnership, making the purchase on your own could be nearly impossible. At least if you share the cost of the mortgage and share the bills of running a house it splits the expense, thereby making it more affordable. Lenders now do assessments of affordability rather than just taking into account joint incomes as they did in the past.

Every homeowner knows what a mortgage is, but many people have heard that term on movies, television shows, and commercials without knowing what it really means.