Booking deposit on unbuilt house

Myself and my partner are very interested in a new development of houses in our area. The building firm which has a good name have already built and sold 8 houses. Now they are building 8 more.
The booking deposit is €5000 which the estate agent has assured me is refundable if we are not successful in securing a mortgage. Is it foolish to put a deposit on an unbuilt house considering the way the house market and construction industry stands at the moment?

Thanks

A booking deposit, as the agent has told you, is refundable. You only committ once you sign contracts and pay the balance of a 10% deposit normally.

There is nothing wrong with buying a house off plans per se but your solicitor will probably want to put strategies in place for you in case the builder goes bust.