[ursa minor]

It's possible to make a smaller boat work, it's going to depend on where you'd be keeping your boat and what part of the lake you will need to cross to get to your island destination. We have a relatively short hop from Harilla on Long Island, I could make do with with a lot smaller boat most days. However try that with guests, their stuff, a couple of dogs and throw a little rain and wind in... It happens.

What would concern me most if I were you is the "3 small children" you mentioned. I had two of the above and aside from the obvious safety responsibilities, you'll need room for them to sit and to stow the gear they bring. You'll want them happy and safe for both your and maybe more so, your wife's peace of mind. We up sized to the current 22 footer when our older 19 footer had my wife concerned a couple of times in bad weather and at night. (Kids were 5 & 3 at the time). This boat will and has taken pretty much anything Winnipesaukee can throw at you, it's one less thing to worry about on a Friday night.

It is possible to make a bow rider work with canvas, most come with bow covers, I just have a thing about closed bows. The steep chop on this lake can be surprising, I've had water over the bow a couple of times and prefer to have that fiberglass deck in front of me. Everything is a compromise, your personal preference may vary from what my priorities are.

As an aside, just curious as to how much boating experience you've had? It's not impossible to start with little to none and make an island house work (God bless my parents!) but it's a lot easier if you have some boat handling experience under your belt.