Making a perfect latte is actually really easy, provided you have some basic equipment and know what you're doing. A latte is made up of two ingredients; milk and espresso coffee. For the milk, ideally you will need a steaming wand, something that shoots steam into a pitcher of milk, creating something that is known as microfoam. You can however still achieve almost the same effect using a microwave or saucepan and stovetop, and a small, very low cost foaming wand.
The espresso is critical, so make sure that if you can only afford one piece of kit, you get a decent espresso maker. They take on all different shapes and sizes, ranging from things like the pod based machines offered by almost all of the major manufacturers, to your more traditional coffee shop style portahandle machines where you literally pull your own shot of espresso.
To begin with, froth your milk. Many people often assume that you start with the shot, but you want to be able to add your shot to your drink as quickly as possible, so don't waste time leaving the shot on the side to get cold or stale. You want to literally pour it, add it to the drink and serve, so start with your milk first. You want to heat the milk up to around 65 degrees C and at some point you will want to do a small bit of frothing.
It's worth pointing out the difference between a cappucino and a latte however. A cappucino is one third steamed milk, one third foamy milk and one third coffee. A latte is about one eighth coffee and about six eighth steamed milk, with maybe one eighth foamy milk to top the latte off. Bear this in mind when you are heating up your milk!
Once you have your milk hot and good to go, you want to pour a shot. The way you do this will vary depending on your machine. It might require grinding some beans, tamping them off in the portahandle and pulling a shot the traditional coffee shop way, or it might just involve putting a pod in the machine and pushing a button. Either way, you need to add your espresso to the mix! The ideal brewing time for an espresso is between 18 and 21 seconds. If you let the drink brew for less than that, if will come out watery, if you let it brew for longer than that, the coffee becomes burnt and overly bitter tasting.
Finally, take a tall latte glass, add your hot milk and pour in your shot. Stir to mix up well, and serve!
