Hi Jennifer!
How exciting planning that first Disney trip! All of the one's are great but the first is always the most magical!
I strongly recommend the Contemporary Resort. It's a Monorail resort that's literally within walking distance of Magic Kingdom, has a balcony, a great pool, and a refrigerator. If you happen to get a Club Level Room, you'll also get a microwave.
We stayed there recently with our 6 and 2 year old with a Tower view. One night we deliberately came to our room early just to watch the Magic Kingdom fireworks right from our room! That was really a cool moment, and you know you're close when you can actually hear the music playing from the Magic Kingdom loud speakers while the fireworks are shooting. We weren't Club Level, though, so no microwave in the room...
Your children will also love seeing the monorail whooshing thru the resort, something both of my children couldn't get enough seeing. They also have nice stores and a cool arcade there as well.
For more information on the Contemporary Resort, click here!
Best wishes on your 1st trip!