Austin resident Camella Sutton knows first-hand how overwhelming the process of buying a home can be. When she and her husband bought their home in 2013, she didn’t know all the ins and outs of the maze that is homeownership and relied on a realtor to lead her through. Now, Sutton is the realtor helping people achieve homeownership — and she wants you to be empowered throughout the process, too.
While Sutton works as a realtor throughout all of the city and some of its suburbs, she tries to focus on Austin, where she’s lived since she was a kid. Austin Weekly News spoke with Sutton about the local housing market and what to expect from the buying process.
This interview has been edited for clarity and length.
Austin Weekly News: Why did you pursue a career in real estate?
Camella Sutton: I wanted people to know, not so much about real estate, but how to advance, and really the one thing that never goes away is land — that’s the thing that people fight for every day. So, I really try to now focus in on educating people on the benefits of owning, of ownership as a whole.
AWN: What are the benefits of homeownership?
Sutton: One of the biggest things is that it creates generational wealth. Having ownership, whether it’s a home that you’re growing with equity in, or if it’s a multi-unit, you’re constantly collecting rent — it’s something you can pass down to your family. It’s the beginning of generational wealth.
AWN: What are some things people interested in starting the process of buying a home should know?
Sutton: The first thing I do is I tell people it’s not HGTV. That’s for sure. And then really just having them determine what they’re truly looking for, teaching them to live within their means. A lot of times we see these beautiful, decorated homes that we see on TV and automatically you’re like, “Oh, I want that.” [It’s important to] be realistic with your search and know that you can transform anything into a home.
The second part is educating them on the finances. A lot of times they go online, they’ll get a pre-approval, and it’s like, oh, I’m qualified for $300,000 — that’s not what that means. You need to factor in the taxes, the insurance, the what-ifs. If you’re going into a house that isn’t as updated, what to expect from things like that. That’s also something I’ve educated myself on. My husband is a home inspector, so I had him teach me everything about what to look for when I’m going into a home, so I know when I’m showing people things, [I can see] what needs to be repaired. Let me explain to you what this could look like for you in the future. I really like people to go in with everything they need to know. I like to prepare people and really educate them on the process, even after the closing of a home.
AWN: What are some of the financial items people need to have in line before they even start the process?
Sutton: For one, knowing what you can and can’t afford, knowing your own budget. Having money saved up for, you know, your first mortgage payment, but what if something should happen? I like to tell people to have anywhere from three to six months’ worth of reserves in their account, not that you’ll need them — but anything can happen. You can lose your job, [there can be] acts of nature, your roof caves in, and you just never know. So, I like people to be prepared financially.
Also, having them look at their credit report and knowing what’s on there. And also looking into different [financial] programs — don’t settle for the first lender that you see online. There’s so many great programs that a lot of people don’t know about and are not widely advertised. One in particular that I love to tell people about is called [Neighborhood Assistance Corporation of America]. NACA allows you to obtain a home with bad credit, it doesn’t go off your credit score, it goes off your ability to pay your bills. It’s an awesome program that I like people to know about because it offers so much.
So really just knowing what’s out there is big, and knowing what you can and can’t afford, being realistic with yourself. What are you willing to cut back on? What sacrifice are you willing to make to get to the point of homeownership?
AWN: What are the first things you tell a potential client?
Sutton: You’ve already taken the first step when you called me. The next thing that we would do from there is we will have just a great conversation, me getting to know you and know your likes or dislikes so that I can better assist you along the way. I’ll also find out a little bit more about your current situation financially so that way I can direct you to the lender that’s going to help you in your situation. Some people are veterans, so I want to make sure that we get you to a [Veterans Affairs] lender. If you are someone that can purchase the house, but maybe you don’t have all the down payment, I want to get you to a lender that has a great program that’s giving you money at closing. Every situation is going to vary. Some people already come with their lender, which in that case, again, I’m getting to know you so that way we can start your search. Each person will be different based on their needs.
AWN: You’re a property owner yourself. What did that process look like for you?
Sutton: Our process is another reason why I became a realtor. When I actually purchased a property that I live in, I did not have my license. My husband and I were flipping homes, but we had a realtor take care of this stuff for us. When I went to purchase my home, I felt I was being steered into certain areas. I felt that everything that I should have been informed about, educated on, I wasn’t given that opportunity. But now that I know, obviously I move differently. In my process, it was very overwhelming, to say the least. I learned a lot about different contractors, different developers. It was a lot of up and down, but in the end it worked out very well. I absolutely love where I live. I love my community. I would absolutely do it again.
AWN: If you could give advice to yourself before you started the process, what would it be?
Sutton: I would just tell myself to be a little more realistic within your search, and don’t limit yourself. So, I would tell myself to really just expand outside of my comfort zone.
AWN: What does the market look like in Austin right now?
Sutton: The market in Austin is on fire. We are at an all-time high. The property values of our community are through the roof at this point. You’re seeing a lot of high property values, so a lot of equity in a lot of these homes. You’re seeing things that you probably would have never seen before — houses being brand new built over here at $600,000 and more, you’re seeing half-a-million-dollar properties being built. So, our community is taking a huge turn. We’re seeing a lot of growth and hopefully, that will lead to more businesses and more opportunities growing in the neighborhood as well.
AWN: If you could give any advice to someone in your community who is interested in getting started with the process, or someone who is apprehensive about homeownership, what would you say?
Sutton: Don’t be afraid, trust in yourself. Definitely do your research, and just go for it because the cost of living isn’t going down. If you’re waiting for that $100,000 house, it doesn’t exist anymore, so it’s no sense in waiting, because the prices are going up.
AWN: Is there anything else you’d like the people in your community to know?
Sutton: There’s so many great things coming to Austin. Definitely don’t be afraid to invest in your neighborhood. Become part of the neighborhood, join different clubs. There are so many great programs that are over here, from Build Chicago to the Good Neighbor Campaign. There’s so many great things that are happening here. Get out and be a part of the neighborhood. The neighborhood is going to be what you make of it.
