The Dream Home Checklist. Are we both on the Same Page ?

These six items will help you prioritize the features, elements, and amenities you’re looking for in your new home. There are some that you must have, and there are some that you would like have if price allows, and there are probably some on the checklist that you hadn't even thought about until now.

1. Price

Knowing ahead of time how much you can afford and what you are able to spend immediately enables you to narrow down the vast market of homes to about 10 percent of what’s currently on the market.

2. Type of property

Are you looking for a house, town home, condo, co-op, or multi-unit home?

3. Condition of property New or old?

 How much sweat equity do you want to put into the property? Do you want to pay a little less and invest time and money to improve the house yourself, or do you want to buy a house that’s ready to move into?

4. Must-haves

The must-have is essential in your new home. For example: “We have a newborn baby, so we must have a two-bedroom house.”

5. Nice-to-haves

A nice-to-have may get nixed out of the mix if price becomes an issue. For example: “We have a newborn baby, so we would like to have a three-bedroom house to have an extra room for guests or for a home office.” That third bedroom is not a must-have and you could (or may have to) live without it to get into a house you can afford.

6. Location

Where do you want to live? If you’re like most home buyers, you have a basic idea of where you want to live. Proximity to family, friends and/or work plays a significant part in where you ultimately want to put down roots. However, there is a lot of leeway within these parameters – neighborhoods and communities within the same distance often vary quite a lot

Thanks to Michael Corbett, Trulia's real estate and lifestyle expert. He hosts NBC's  EXTRA's Mansions and Millionaires.