Installing Vim from source in Ubuntu

Vim can be easily found in Synaptic Package Manager. But sometimes that is the oder version. Like I need Vim 7.3 where the available version in synaptic package manager is 7.2. Then I thought I should go for the source file available on the site. I downloaded the file and tried to run as the site said. But it was showing some errors. Then I googled again to get some more idea. I found a simple process. Which says four steps after going to the vim directory:
1. ./configure
2. make
3. sudo make install
4. sudo ln -s /usr/local/bin/vim /usr/bin/vim (process 4 is optional)
But then I got a new error message telling me something like these You need to install a terminal library: for example ncurses. Or specify the name of the library with –with-tlib
This particular error informs us that we need an additional dev library to compile the file.
To get the library simply type:

sudo apt-get install libncurses5-dev

Then follow the four simple steps mentioned earlier in the post.
Now new version of Vim should be installed in your system.