Having proper room acoustics is probably the #1 overlooked and misunderstood subject for a home recordist. Sure, you've skimmed over an article that mentioned Bass traps that one time, and seen those cool little foam designs on studio walls, but you figured it didn't apply to your home studio. Well, I'm sorry to report, room acoustics matter to anyone who is trying to mix and hear things accurately within their room.
Having bad room acoustics in your studio is a big reason why you play your 'awesome mix' in your car, and then realize the mix really sucks! Your room may not allow you to hear the music properly. Many home studios are small, which creates multiple problems, especially with low frequencies.
I'm just as guilty as everyone else for not properly treating my room and not spending enough time learning the subject. I have certainly gotten better and made some effort to treat my room, which paid off immediately in my mixes.
Room acoustics can be a pretty in-depth subject, requiring lots of math and smarts. I'm not sure about you, but I prefer to play and mix music over doing math and being smart. With that said, here is an awesome Lynda.Com video put together by Mr. Bob Owsinski explaining home studio set up and room treatments. This full course also has a bonus feature of showing step by step how to easily make your own bass traps, thus saving you some money.
The full course can be found here:
Music Studio Setup and Acoustics
Mike Lizotte