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Rekeying is typically cheaper than replacing locks. Professional rekeying costs between $40 and $160, sometimes with an additional fee of $15 to $40 per lock. A locksmith's hourly rate averages around $75. If you do it yourself, a rekeying kit can cost as little as $10. In contrast, replacing a lock costs between $130 and $500, with an average of around $315, depending on the hardware and lock type. Rekeying is a simpler process that changes the key for your existing lock without replacing the hardware. It is a good option if you have a quality lock that works well, you've recently moved, you've lost a key, or you need a quick security upgrade. The best choice depends on the condition of your current locks.

A keypad deadbolt, a lock requiring a code entered on a keypad entry, can be a convenient option for families with children coming in and out and needing access to the home. It can also offer an easy solution if you rent your home out, since you can easily change the code as needed. So, depending on your home entry’s needs, a keypad deadbolt may be worth the extra expense.

Yes, but adding a deadbolt to some door materials, like steel, may make installation a little bit trickier. For these materials, you will want to hire a locksmith to do the work for you, but be aware that they may charge an additional fee of $25 to $50 or more.

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.