Features and tools: Something that you may want to look at when researching the perfect DAW for you, is the tools and gadgets that come with the software. A lot of the DAW's come with a variety of different bells and whistles including tools to slow down time for precise editing of audio, pitch correction, and all kinds of different tools for processing and manipulating your sounds.
Effects Package: The proper use of effects is the bread and butter of home recording, it can make an average recording sound much more professional than it actually is. So part of your research should be on the effects suite that comes shipped with your software, and if you have an eye on upgrading to a high budget effects suite you like, you want to make sure that it is going to be compatible with the DAW you choose.
Mixing Features: The mixing of your music is what separates the pros from the amateurs, which is why many home recording enthusiasts do leave it to the pros. If you have the ambition and desire to try it on your own then you will want to make sure that your DAW has great mixing capabilities, some are better than others. If you plan on outsourcing your mixing then once again you find yourself in a situation where you will need your DAW to be compatible with that of whom will be mixing your music.
Compatibility with your OS: Before you purchase your Recording software you will want to be sure that the version that you are purchasing is compatible with your computers operating system. With the release of Windows 7 it has forced a lot of people to change their recording software and hardware, and or revert back to windows xp or vista.
Make sure it fits your recording and working style: There is a reason why some people like Coke and others Pepsi, or some PC and some Mac. Much of it comes down to aesthetics and the consumers' personal taste. So the best way to find this out is to do test drives. Any decent Digital Audio Workstation will have a demo of the software on their website. They will most likely not be fully functional but it will give you a good idea of how the software functions and feels in action.
Well hopefully this will give you a good place to start in your search for the perfect home studio. Here is a list of some of the most popular recording software/hardware solutions.