Labs

I'm sure they would look cute but personally I would never want one. First because I would never get a mixed breed from an unresponsible backyard breeder who put two random dogs together for no reason when there are so many dogs (and puppies) dying in shelters and rescues, and second because of what I know of those breeds. I can imagine they would be very hyper since both are very active breeds, the BC being more so. It would likely require insane amounts of exercise to avoid such a mix from getting bored and destroying the house or doing other inappropriate behaviours (nipping, barking, etc).

I do still think it'd make a great pet for the right owner involved in obedience/agility/other dog sports, but for the average dog owner it would probably be too much to handle.

When you get mixed breeds you never know which of the personality traits will show-up. Most mutts are pretty good dogs and fairly healthy but I would rather know what I am getting into.
I have 2 labs..one would be a couch potato if we let him on the couch, the other is a real goofball. Always walking around with socks in his mouth and making us laugh.

Please don't be alarmed by the previous comments made, cross breeds are actually less likely to have behavioural and health problems than pure breeds, provided the parents are healthy with good confirmation. And in any case most behavioural problems are the fault of the owner not the dog, there is much truth in the old adage, no bad dogs only bad owners.

Crossing a Collie with a Lab could result in a dog with out the defects so commonly seen in Labs, making it more intelligent and less lazy, as you are probably aware Labs have a tendency to get rather fat when old, a fault of the owner not the dog.

all the best urban

Please encourage your neighbor to spay and neuter the parents to prevent any accidental litters in the future. There are so many dogs like this at the pound with not enough homes for them all.

It is hard to say what the puppy will be like, but be prepared for a higher energy dog. If you don't like to take a dog for walks, to take it to obedience class, and to also do other activities with him/her it is not the breed for you. Labs need exercise, but border collies not only need exercize, they are smart in a different way than labs are. As herding dogs they are independent thinkers and they usually don't miss a trick. So you have to 'stay on top" of your dog and make sure that they don't get bored. (a dog tired from playing and walking is a happy dog).

Just be prepared - sometimes two more active breeds cancel eachother out but be prepared to be very involved in the training and upbringing of the dog (and of course btw, a dog can be spayed or neutered as early as 8 weeks, so get that done too. Dogs who are spayed are much easier to train because their focus is on you)

I love any color of the Lab. I love Labs PERIOD! I had a black Labrador when I was little named Beatrice. She died of a blood clot however after getting hit by a car.