Also you can create a duel boot and have both 7 and 8 on the same computer. Minimum requirements are at least 20 gig of hard drive space available. Check out his site for full details on how to do it.
http://mashable.com/2012/11/08/dual-boot-windows-8/
Note that you are doing a totally new install so things like your Favorites and IE settings will not be carried over. Same goes for installed programs.
VG