You can actually go wrong with bass traps , especially if there is a Null , or they do not cure a sharp resonant peak that you may have. I have a + 8db peak at 50hz running from 40-60hz - tell me how to build a bass trap that will surgically excise this? If you have not even simply measured freq response at listening position , then you dickering around in the dark. You need to cure the gross anomolies before you can tackle the finer stuff. At the end of it all , a totally "corrected" flat room sounds like doo doo - even the makers like TACT/Lyngdorf that do true time and frequency correction actually allow "preference" curves to be overlaid atop the correction. The first point to start at is correcting bass , which is not very problematic to do via eq. You can go up the freq range once that is done.
In the interim , a cheap unit like the KRK ergo which corrects sub500hz in the time and freq domain is a great buy , it has 2 corrections , one for sitting position (time and freq) and one for the whole room (freq) and is a damn good 24/96 dac to boot.. it's a great solution to those that dont want all manner of ugly constructions floating around the lounge/whatever.
Even something like a simple 4 band digital paprametric equaliser can do wonders without treating the room.
However , all of these gizmos are obviously much more effective if the room is good to start with. You wont get good sound in a lift shaft , no matter what you do.
There are other options , you can try put furniture , bushy pot plants , artworks etc in the areas you would put the traps and diffusors in , maybe not as effective , but aesthetic. You can also listen nearfield which almost takes the room out the equation.
There are also other considerations , what may work at one volume level may not as things get louder or softer , so you have various "corrections" based on SPL as higher SPL's might tend to excite nodes that arent as obtrusive at lower SPL's.
The other issue is that anytime you get new speakers/equipment/change listening or speaker position , your treatments have to change.
I have used a TACT, Behringer deq 24/96 , lyngdorf/krk ergo , Z-sys RDP-1 , and find that the Z-sys which is only a very good digital parametric works the best for ME.
If you want a reference as to the true tonality etc of the music , use a set of good headphones as they don't have any room interaction issues , you can "tune" to that reference if you want ...