Ah yes housing...my favorite part of an MMO...I would like to list the most important features for me:
1-Interactive furniture (beds you can sleep in, chairs you can sit in)
2-Dye tubs for furniture
3-Chest/cabinets/furny for storage
4-Ability to place items on ground/furny that you found questing
5-Gardening
6-Fishing in waters on your land
7-Harvesting resources from your land