Re: Buying our first sailboat
With dinghies there are really 2 approaches : try to get something stable enough to never capsize, or plan on it happening regularly and wear wetsuits, life jackets, etc. That Banshee is firmly in the second category, and it's much too small for 4 anyway. How happy will your wife be about a swim in the Columbia? Could the 4 of you right the dinghy and get under way again? What's happening to the 3 year old when you're all swimming?
If you want good stability and room for 4 you really have to go for a daysailer with a weighted centreboard or keel. Then you're very firmly on a trailer.
Something has to give in your expectations.