I just look at it, wander around for a long time, as I'm looking at houses that might work. I let the "vibes" sink in. Could I see myself living here...doing all the things one does in a house? Would it feel like a home? My home? Where would my furniture go? Will it be homey and cozy? Will it be someplace that makes visitors and family feel comfortable too? Will it be a property that a lot of people or average people would like to buy? (gotta make sure you get a very salable property for later if you sell) I was in a bit of a hurry to beat the Idaho winter and I only looked at about 6 houses. (after researching online for a while) One was not in as nice a neighborhood, one was way too big, one had a lot that was very, very steep and no back yard. Then I looked at a couple in this neighborhood and decided on this floor plan. I walked around and said to myself, "This would work. Yup...this would work." Had a good feeling to it. Went to the realtor's office, filled out the P&S agreement and off we went. I paid cash, got a bunch of nice appliances thrown in and my closing costs paid.... and it closed in about one or two weeks, went back to Idaho to pack up and came back in early Oct.
I'm not one to look at a million different houses. I figure, if I can't find one I like after seeing 5 - 10, then something is wrong with me. LOL. Ya can't have everything. No house is perfect. Look for potential but not potential that will cost more than it's going to be worth when you're finished fixing it up. Make sure it's feasable. Don't pay for "blind" potential. Realtors always throw that in. "But it has potential." You're not paying for potential. lol.
Different things about a house have different values to each of us. In my case, I was looking for a pretty narrow range of square footage. Space is important to me. But not too much space. So, I was looking between 1900 - 2200. I found one that is 2100. I also wanted a move in ready....new construction particularly. I love new construction. I've built before and knew what to watch out for. Most people have to sacrifice something. No house is perfect or has everything you want unless you're stinkin' rich. I did have a house that had pretty much everything I wanted, but that was a long time ago.
Something I never thought I'd like is living in a subdivision where all the houses are very similar and close together. I use to live in the toolies....major toolies. LOL. Lots of land, lots and lots of wilderness all around me. But things changed and I moved into one of these subdivisions. It's a smallish one. But what I found is that I could get a brand new home and it's a nice one, with lots of nice wood work and granite, some hardwood...not bad. And the big thing is, that it was very reasonably priced. I couldn't build a custom house of this size for this price. I know because I did build a house and am familiar with construction...might do it again some time. The lot is very small, just what I wanted because I don't want all the maintenance anymore. The neighbors are quiet and nice...at least so far as I can tell.
So, depending on what you want, focus in, make lists and see what your money can buy. I didn't want to be house poor so I bought a house significantly under what I could have bought. I like to be able to help my kids and do other stuff with my money, like maybe buy another house. LOL.
Anyhow, let yourself feeeeeeel the house and make sure it works for you. Don't get hung up on things like paint color or flooring. Pay attention to the floor plan...the layout and the bones, the location/neighborhood, re-sale potential etc. Make sure it's in good shape or if parts aren't, what will it cost to fix up. If the kitchen is out dated and you want to re-model, figure that into the cost....save enough to do it.
I see some people getting very hung up on "charm" of older homes. They are indeed sometimes charming, with wonderful wood work and unique features. However, be careful. You won't tend to get the open concept where the kitchen is opened to the living area. You might not get enough bathrooms and there will likely be tiny closets. The plumbing and wiring can be old, old furnaces that are about to go out, stuff like that. Of course, you'd get an inspection. But...me, personally, I love the new materials they have for plumbing pipes and a lot of other stuff. Everything is new and fresh. It comes with a warranty...or should. Some things are el cheapo sometimes, but not necessarily all bad. My house is very nice and has a lot of good materials and workmanship in most of it. It was not too expensive.
So, best of luck to you. I hope you find something that will suit you, feel like home, and work for you now and in the future, whether this is a house you'll live in for a long time or a stepping stone. Houses should be an investment. I've done well buying and selling, building and selling houses. It's not always a good market for selling, like just recently. But it is good for buying (in most places in the US) Just don't pay too much.