Nichole:
I may have my Mom's Panel ears snatched away, but I have to be honest: if you are planning on visiting Disney World for 7 nights and 8 days, I do not believe you need the
Park Hopper Option, even if it is your first visit. In my opinion, each park is large enough to stay all day--and a couple of them for several days--and not see everything. Additionally, because switching from one park to the next can easily take up to an hour out of your day, and as you mentioned, you are visiting during a time of the year with shorter park hours, I don't advise park-hopping, especially for first-timers like yourselves.
My final thought: for the cost of the Park Hopper Option at $60 per person plus tax, I'd use that money to buy a memorable dining experience, fireworks cruise or even a souvenir keepsake. Your family will appreciate the memories created from these more than being able to go to two parks in one day.
Wishing y'all a magical vacation!
Whitney