I have a Lab who has just had his second birthday, He has never ripped anything up or really misbehaved at all but he gets 2 long walks a day and plays with my girls when they are at home, As labs are a working dog he needs lots of exercise as they do become destructive due to boredom and way to much energy.
As I said my lab is 2 and he still occasionally jumps up at people this is a lab thing they do slowly grow out of it but you do need to be firm with them as they will respect you more.
Also they are a family dog that needs people with them as much as possible if he is alone 75% of the time he may be bored.
When he has settled down you will not have a better friend in the world.