changing hostname, anything to avoid?

[Sergio (Serge) Rey]

I'm reading over docs of a program i'd like to compile and install and it
requires a hostname other than my uninspired localhost
I've read some docs on how to change the hostname but haven't seen any
warnings of dire consequences if I do this. 

This is a stand-alone home machine that uses a ppp dial up connection.

Any thing(s) I should do before, or after, changing the hostname?


TIA

serge