Boated my whole life with my children on board. Great family time. We always had some form of a runabout with as big of a cabin as we could afford. We had from Rinkers at the beginning to Baja's to Fountain's to Donzi's, etc. I recommend deciding how much overnight boating you will do and find the boat that will meet those needs. Day boating on Lake Michigan is what we have done for years and a nice cabin with some amenities is very helpful to keep a happy spouse and rested children. The market is full of 27-38 foot runabouts for $35-100K that will meet these needs and fit into your budget. I did always prefer a twin engine application, especially with kids, for safety if nothing else. Good luck.