Now the shedding is a whole other topic!
I’ve had several labs as pets including my current dog who is 12. My advice is to crate train and take him outside on a frequent basis when he is very young. My further advice is to always take him to the same area in your yard, so he learns to relieve himself there. It makes it easier to clean up after him and less likely that he’ll pick up the nasty vice of eating his own poop and then coming back inside and promptly licking you. If you don’t do this, he’ll go where ever he wants and you’ll be cleaning dog crap off of your shoes and the kids shoes for the rest of his life.
It is important to begin basic obedience training when the dog is a bit older - say around 12 weeks or so and continue this training through his first couple of years. You will want a dog that is obedient (sit, stay, come, down, etc), is trained both on a leash and off leash and who has house manners that is well socialized both with other dogs and people. Lots of books and videos on techniques. There are few things more exasperating than to have a dog that jumps up on people or who, for example, counter surfs eating your food as opposed to his because he has never been trained not to do this. Training has to be systematic, done daily and reinforced consistently over his first few years until it is engrained.
My last bit of advice is that adult labs coats are very oily and if you allow them on the furniture they will ruin the upholstery eventually, so I advise against letting them get up on couches or beds.
Now the shedding is a whole other topic!