I think you're making the right decision. Not all labs are hyper. My Finn is so good with children, he never puts a foot wrong when my five year old niece is around or when my best friend's two year old son is here. Yes, Finn is extremely hyper sometimes and I just let him run his laps for a couple minutes in the living room and he's fine. Just watch out for the tail. ;) With training, almost any dog can be a joy to have indoors and around children. You will just have to give this dog a shot, and, see what happens. Good luck! :)