Planned Features.

Disclaimer: The features found in this article have been mentioned by the developer, but it is possible that things might change, and that some features could be removed from the list. Please keep this in mind when reading it. Thank you for your understanding! 

Overall:

• Available for PC and Mac.
• Background music and soundtrack.
• Built on unity, using C#.
• Can’t drive the cars with keyboard (WASD), only point and click.
• Create a world tool after release.
• Colour wheel, with textures and option to save colours and favourite, and will also include a hexcode. Can customize different parts. Available both for character creation and build mode.
• Dog name is Doggo.
• Developed by Alex, Roxane, and Lea.
• Life simulation game, not just building.
• Lots of free updates, few paid add-ons (which would contain a lot of content).
• No religions.
• No plan for grim reaper.
• No plan for VR.
• Option to move the camera with edge scrolling.
• Planned for both low-end and high-end computers, and laptops. Supports 4K resolution.
• Point and click.
• Price to be announced.
• Rated Teen (13+), so no mature themes such as drug, murders, sexual violence, pornography, gore, etc. Nothing graphic.
• Release date to be announced.
• Single player, no internet connection required to play (beside downloading/updating the game).
• Steam workshop to share creations, such as houses, paras or worlds.
• Tutorials.
• Tools to mod the game, no script mods planned as of now.
• Top down view.

World:

• Addresses.
• Will be able to change the name of the streets with the create a world tool that comes after release.
• Custom made lots, variating in shapes, including curved ones.
• Create a world tool available after launch.
• One world at launch, could add more later on.
• Open world neighbourhood.
• Premade houses, lots and characters.
• Premade LGBT families.
• The sun will have realistic movement.
• Swimmable water.
• Weather, including seasons.

Gameplay:

• Alcohol (unconfirmed if they will be be named alcohol or something else) can make you tipsy
• Babies will have their own personalities and will not be objects.
• Cars, bikes and boats.
• Cheats (unsure which yet, but at least money).
• In-game currency is called Paradimes
• Cultures.
• Dogs, cats and horses (more animals might be added after launch).
• Holidays.
• Life stages (unsure which yet).
• Memory system.
• Multitasking.
• Option to turn off aging.
• Pet needs will not be hidden from the player.
• Pooping, because yes someone asked.
• Procreation.
• Restaurants (unsure if playable at the moment).
• Story progression, such has NPCs being able to get promotions, have kids, find partners etc (unsure of the extent of it as of now) will be toggleable.
• Switch between time speeds (slower or faster).
• Schools.

Character creation:

• Paramaker (PAM) is the official name for the character creator.
• Ability to customize different parts of the hair.
• Accessories to go with hair.
• Basic genetics (unsure of the extent as of now).
• Cartoony with realistic proportions.
• Complex and diverse personalities
• Detailed mode and normal modes during creation.
• Family trees.
• Gender customization will have its own set of options, not taking up personality slots.
• Height sliders.
• Hijabs.
• LGBTQ features and detailed gender options.
• Make-up.
• Mid-Poly count for characters.
• Multiple planned outfits.
• Muscle options for the body.
• Name of first para in Paralives is Maggie.
• Name of the first cat is Youri.
• No hair growth planned.
• Scrunchies are separate from the rest of the hair. Ability to change them into regular hair ties.
• Sliders and push-and-pull (Like sims 4).
• Tools available to copy and save presets.
• Transgender and non-binary.
• Variable weight.

Build:

• Ability to add your own pictures or photos through modding tools.
• Ability to create lofts.
• Accurate measuring tools.
• Asymmetrical walls.
• Attached houses.
• Bunk beds. Lower bed can be bigger, and Top bed can be bigger, and anything that fits can be placed under.
• Bra in Maggie’s Loft is a decor item.
• Cemeteries. Writable tombstones, 254 max characters. Can have multiple cemetery lots, and can have tombstones on your own lot.
• Colour wheel can be used to change the colour of the lighting and an option for the intensity. 
• Curved pools, and above ground pools.
• Curved walls and possibility for round buildings, up to a crescent shape.
• Custom house-boats (not sure if you can move them around or if it is static as of now).
• Create a world tool available after launch.
• Decorative ceilings.
• Different grass heights.
• Floating objects.
• Floor limit adjustable with mods.
• Foundation heights adjustable.
• Gridless, with option to toggle different grids (precision grids). Slotless placement possible.
• Many different kind of staircases, including diagonals, U-shaped, and L-shaped. (more details in the future).
• Modular counter-top stoves and sinks.
• Music playing during build mode.
• Open and close curtains (Maybe windows in the future).
• Option to flip most objects, and to change some part of it (such as handles).
• Paintable ceilings.
• Possibility to add tablecloths on tables (and possibly extend that function to bed to pick sheets).
• Raised porches.
• Re-sizable doors and windows.
• Re-sized objects can snap to some presets.
• Skylights. 
• Sliding doors.
• Snapping toggleable.
• Split-level.
• Stables and pastures for horses.
• Stretchable furniture (Stretching furniture makes it more expensive).
• Terrain tools (water tools not confirmed as of now).
• Toilet paper is a decorative item, not usable.
• Wall heights (unclear how much heights possible as of now) adjustable and half walls. Possibility to have different wall height per floor.
• Window seats (voted by the Patrons).

Source: https://twitter.com/_amasse/with_replies, https://www.patreon.com/alexmasse, https://paraliveshub.com/ and Paralives Discord Server.