Chainfire has an easy to follow root app that you can follow: [Nexus 5] CF-Auto-Root - xda-developers
It requires a few commands and will do its thing. Just make sure adb is properly installed and the files are located in the proper directory to be pushed to the phone.
Here you go: [GUIDE] Nexus 5 - How to Unlock Bootloader, Install Custom Recovery and Root - xda-developersDo they have step by step instructions?
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Here you go: [GUIDE] Nexus 5 - How to Unlock Bootloader, Install Custom Recovery and Root - xda-developers
The above thread provides information on unlocking the bootloader, installing a custom recovery and rooting. The information is pretty straight forward and assumes you have the sdk installed and working. The link I posted for the Chainfire method is an auto-root method which involves two commands once you have the package downloaded to the platform-tools folder of the sdk. Both references are good resources if you plan to root the device.