One thing church leaders can depend on: the cost of church building construction is likely to rise. While it’s prudent to address church building or renovation needs right away, it may not always be possible or practical. Here are some reasons why you might need to delay construction and how you can establish financial strength in the meantime.
Why Your Church Building Might Have to Wait
There are many reasons why immediately might not be the best time to make the commitment to a church building project. Perhaps you already know you can’t raise the funds you need right now for the church design you want. Sometimes, you work with architects to design the church building that meets the needs of your church vision, but you realize that you just can’t fund the amount you need to begin the church building. Or it’s possible the bank turned down a loan application for one reason or another.
No matter the cause, it doesn’t have to be the end of your church building story. Instead, it’s an opportunity to take a pause and strengthen your financial situation so that when the time is right, you will be ready and able to acquire the funding you need to build on that church vision.
Building a Solid Financial Foundation for Your Church Vision
So, what can you do to establish financial strength? One of the most important commitments you can make is to operate within the church’s income. Don’t spend more than you bring in. Show bankers your commitment to financial responsibility. Also, make sure to keep good financial records, and to have clear accountabilities and safeguards in place for all financial matters with both staff and volunteers.
It’s also not too early to begin saving for your future church building project. Once you’ve got your church vision established, talk about how a new church design or remodeling project will help bring that vision into reality. Create a church building fund and invite people to begin contributing with their money and their prayers.
How Other Numbers Support the New Church Design of Your Dreams
Some preparations don’t involve financial numbers, but they are just as important. As we’ve noted before, lenders aren’t just looking at the finances. They want to know if you have a thriving and growing church that can support this church design and construction project. Do you have more people coming to worship each year? Is the number of giving units increasing as well? Keeping good records on attendance and giving can bolster your loan application down the road. When you can prove your church is growing numerically, bankers are more willing to lend.
Of course, the spiritual side of any church vision is the most important. You wouldn’t want to begin a church building project without having that in place. But when you’re looking to build, you also need to have your financial house in good order, which is why we recommend these steps for all church leaders, at any point in the church design and construction process.
To learn more about what we recommend for church leaders, sign up for our free i3 webinars today.