Periphery guitarist and founder Misha Mansoor arguably started the whole bedroom recording project wave that hit in the late 2000's, so if there's anyone to trust it's definitely him. It helps that throughout Periphery's brief recording career the guitars always sound amazing so you know he's good! The below video is 16-full-on-minutes of everything you would ever need to know about recording guitars in your home and how to make them sound amazing. If you want to stop sounding like farts and start sounding like something other than farts, you're going to want to watch this.
[youtube]http://www.youtube.com/watch?v=er9VhozNHNk[/youtube]