Schematics are first and foremost a communication tool. Don’t try to make things as compact as possible, aim for understandability at a glance.
Common Errors
Expand each point for more detailed information.
Other Things to Look Out For
Power (All boards):
Are all chips driven by the correct voltage?
Are all chips correctly grounded?
All components: what is the current draw?
If this board will be battery powered, what is the battery lifespan?
Linear regulators
Can they supply the necessary current at the specified voltage difference? See performance curves on datasheet.
Is the supply voltage above the dropout voltage?
Would a switching regulator be more appropriate? Is the efficiency of the regulator reasonable under the given load? Does it matter?
Are there appropriate decoupling caps on all regulators? Check datasheet for value suggestions.
Is power actually connected to the board? (There should be a connector coming in that supplies power).
Logic & Communication:
Are the logic levels of all communicating devices compatible? If not, make sure there’s an appropriate logic level shifter.
Voltage dividers: check that resistor values work out for the desired voltage.
Are I2C lines pulled up with an appropriate resistor?
Do reset pins need to be tied anywhere?
Schematic Misc:
Do all components have annotations? (R1, C3, etc)
Are the proper power symbols (GND, +5V) being used rather than global labels?
Are NC pins marked as NC, and not grounded or connected to other crap?
Are all non-generic components labeled with their part number?