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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.

Yes. Most deadbolts purchased from a home improvement store include a step-by-step installation template that is easy to follow, even for novice DIYers. One of the most important steps for successful deadbolt installation is having the proper tools to start with and carefully measuring prior to any attempts at installation.

Deadbolts are solid and durable as can be, but the pin and tumbler can still be forced open, thus making this type of lock susceptible to picking. Most types of deadbolts are harder to pick than a traditional spring-based lock, though. It requires a specialized lock pick and a tension wrench to align all of the pins, thus unlocking the door. 

Yes, you should change the locks as soon as you can after completing the purchase of a house. This is a matter of privacy and security, as you have no idea how many copies of the keys the previous owner made. You can change the locks yourself or hire a pro to replace or rekey the lock, which costs $50 to $100.