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Rekeying should be done when employees leave or keys are lost, while replacement may be necessary for outdated or damaged locks.

Although you should rekey your locks after moving into a new home, you may feel more comfortable replacing the locks entirely. Here are some other scenarios when you should replace your locks rather than rekey them:

• When someone moves out of your home.

• There are too many copies of the existing key.

• Your home experiences any type of break-in.

• You lose your key with the address on it.

Regrettably, entirely pick-proof locks don't exist unless you opt for keyless varieties. Locks advertised as "pick-proof" are, in reality, more resilient against lock-picking and bumping attempts because of complex mechanisms consisting of pins and sidebars. These locks work like this—they assign two tasks to the key, enhancing security by making unauthorized entry more challenging.

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.