I am considering getting a subscription so I can make more digital character sheets, but I have a question. I have all the books and don't need the digital versions on here, but I don't have all the races and races unlocked. For example, if I make a cleric, I only have Life Domain available. If I have a subscription, will I still have those same restrictions because I don't have the digital book?

I am considering getting a subscription so I can make more digital character sheets

You don't need a subscription to make characters

I have all the books and don't need the digital versions on here, but I don't have all the races and races unlocked

If you don't own the books on D&D Beyond, you won't have access to the options in the character builder

 If I have a subscription, will I still have those same restrictions because I don't have the digital book?

Yes. The subscription does the following:

Hero Tier

• Unlimited character slots
• No adverts
• Save other peoples homebrew

Master Tier

• Same as Hero Tier, plus you can share content within up to 3 campaigns of up to 12 people each.

There are tons of threads talking about why you can't redeem physical books for digital ones. The short version is because DDB is not a subsidiary of WotC and doesn't profit from your physical purchase. There are work arounds to save money.

If you have physical books you can use the homebrew tools here to recreate the races, subclasses, spells, magic items, feats, backgrounds and monsters that you need. It will take time but you get to use them on here for free. Don't forget, there's a lot available for free through the Basic Rules already. 

If you'd rather not spend the time then you can purchase the individual thing for a very low price and anything you pay is discounted against the full price of that sourcebook should you ever decide to get the digital version t a later date.