I am a student of a Buddhist meditation called Vipassana. It doesn't matter what religion you are, you can still practice the meditation. In it we learn that thoughts are passing things and it is only when you give them power or act on them instead of just watching them go by that they become dangerous. The meditation gives perspective and strength. Even better than a buddha in the home would be for you to learn what the Buddha taught! I've studied Buddhism and different buddhist beliefs and feng shui for decades and still, this meditation I think is the best. There is a center in Buenos Aires if you are interested: http://www.sukhada.dhamma.org/

And everybody may have bad thoughts. I mean the less the better since the statue means Buddha is there. So we usually cover it, and only uncover it when we do religious homeworks, during which we will think nothing else. We'll only think of correcting us, learning from Buddha, etc. If we don't cover Buddha statue, people who don't know the fact may touch it, or say or think something about it, that's really the opposite of purpose of putting it there. More respect, more luck. Buddha won't blame people but there is a rule of no respect leading to hardship to reach him. And the purpose of putting the statue there would be in vain. We would cry out the name of "na mo guan shi yin pu sa" who saves people as she wished when she's still an ordinary human. She is a student of Buddha.

As a matter of fact, Buddha statue is really good. But you have to put it in a really spiritually clean place so that it could work. Just in the way people put divine statues. If the place is unclean (even bad thoughts mean unclean) or whatsoever, I recommend you of putting Buddha in a box, or cover it with red cloth since the statue should be with a constantly sincere heart. Thus, Buddha in the divine world will hear your pray. We only see the statue when we do our religious homeworks, and the statue is just like our teacher Buddha sitting there. There is no worship but he really knows, so I must consider respect. We put a glass of water in front of it meaning our sincere, open, crystal, and etc heart with nothing evil just like that of Buddha.