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Expect to pay between $50 to $200 if you hire a locksmith to change your locks. That figure includes labor and the cost of basic hardware. The cost will naturally be higher if you plan to install more expensive locks, like smart locks, and if you need a lot of them.

Homeowners can save money by replacing locks themselves. A typical rekeying kit costs about $10 to $25. The only additional cost is purchasing new house keys, and those are no more than a few dollars per key. If you want to replace the locks on your own completely, the main cost is the price of the locks themselves. A standard knob-style lock starts around $25, while electronic locks and smart locks will run in the hundreds of dollars. The only additional tools you should need are a tape measure, screwdriver, and screws if they are not already provided.

You should replace door locks when you move into a new home since you don’t know who has copies of the key. Other reasons to change your locks include an attempted break-in, when someone moves out of your home, or if you lose a key with an address attached to it.

There’s no set time limit for when you should replace your locks, but there are several indicators that it’s time to swap them. If you’re moving into a new home or have a roommate moving out, it’s smart to change the locks. If you experience a break-in or other crime, you should change it then too, or if you ever lose your keys. Eventually, locks can wear out, so it’s ideal to replace them after several years of use or one of these circumstances occurs.

The benefit of deadbolt locks is that they're much harder to force open than simple locks with pin tumbler mechanisms, so they may offer added security. This feature is why many locksmiths recommend deadbolts for home security. For many households, this added protection and peace of mind is well worth the cost of installing a deadbolt.