The American Dream of owning your own home and a little piece of land to tend has been a little battered since the Great Recession, and many people were left wondering if homeownership was all it was cracked up to be after seeing house values plummet. There have always been plenty of emotional reasons to buy a house — security, family, a fresh palette for all your interior design fantasies — but does it make sense from a financial standpoint to lay down thousands of dollars for a house?

Whether you're buying your first home or your fifth, it's easy to forget about the closing costs. You've probably spent your time focused on saving up for your down payment and using this number as the basis for how much house you can afford — but that 3 to 20 percent down payment isn't the whole story. 

It's a good idea to be a bit cautious when it comes to buying a house. After all, it's likely to be the biggest check you'll ever write, and you'll be paying for it for years to come. Still, for most people, homeownership is an excellent investment, and getting the right loan will ensure that you enjoy your purchase without a hassle.

Although you might not notice it while you're attending all those Sunday afternoon open houses, there are some serious economic forces in play when it comes to your local real estate market. Basic laws of supply and demand are in full force, and if there are a lot of houses up for sale in the neighborhood you want to buy in, you're in luck!

We've all seen those reality T.V. shows where a team of house flippers turns a huge profit by remodeling an entire house... but are they realistic?

More importantly, should you consider making a big renovation to your house before selling?  Will you see a return on your investment?