Fun thread! Good Luck in your home search.
First: Don't stress the cost unless you really think it's out of your budget. I always looked at it as "free rent." You're just paying rent, but you get your money back if/when you sell.
Like others have said, Location is my first priority. How far you are willing to commute. Schools. Shopping. Neighbors. All can make a difference in how happy you are with your home. What you want in a neighborhood can and does change throughout life.
We chose a home close to schools/parks/library/pool when our kids were young. Neighbors were close which meant the kids had playmates nearby and we didn't have to drive them everywhere.
At that time, I wanted the bedrooms all upstairs for proximity to young kids who still needed us at night, but also to keep our bedrooms private from guests (I worked from home).
We didn't want a huge yard because we were so busy with work and kids, we didn't think we could keep up with anything larger.
Now that our baby is 16, we're thinking about moving. Not in any rush, but it's on our radar.
At this point, we would prefer a single level with a basement for storage and guest space for visitors. We would primarily live on the ground floor. I would like a larger living space and smaller bedrooms. Plenty of closets, average sized bathrooms (I don't need more to clean

), and a appropriately sized space for my home office (this has always been an issue in our current home so it's on my radar). I like a good sized (not huge) kitchen and love having a pantry. I also need a decent sized laundry room and a mudroom/entry to collect the mess. I would like an attached garage (we have always had a detached), and at least 2 acres but no more than 6, so we can have small garden and room for the dogs to run. A pond would be a bonus. Dh enjoys fishing and we have a lab who loves to swim. (This was not on my list until I saw how many homes in the area actually had a pond... it got me thinking....)
I'm okay with renovations, but would want to get them done up front. So if the house is too expensive to cover all renovations right now, it's not the house for me.
The next time we move should be for keeps, so I have lots of smaller requirements also.
That's why we're not rushing, just keeping an eye on the homes for sale, and will go from there.
We have the bonus of knowing there is a very limited supply of homes for sale in the price range of our current home and none which have been updated/renovated like ours. Selling should be easy, once we find a house we want to buy or a property where we want to build. My sis is in the midst of selling a very similar home and the amount of interest she's had within a week of listing is crazy, I think she'll end up with a bidding war before she's done.