There's nothing wrong with hanging your guitar from the wall but the same precautions apply. There are special hangers you can get for this purpose. Hang the guitar from the headstock, not the tuners. Make sure the room is temperature and humidity controlled. You might want to make sure you hang the guitar on an inside (warm) wall. Also make sure sunlight won't come in through a window and strike it. If the back of the guitar touches the wall, you'll need to add a protective piece of felt or something on the wall behind the body of the guitar where it touches.
Since you have kids, there's always the possibility of a thrown object hitting the guitar as well.
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