I like
Laura slightly better, but I adore both names.
Lara has its own charm, it's so simple and feminine and pretty without being flighty and over-the-top. (I hate when
Laura is pronounced LORE-a, ugh.)
I think it would be an awkward middle name. But the only
Lara I know is
Lara Elizabeth, which is kind of dull.
Lara Octavia comes to mind!