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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 deadbolt differs from a regular lock in its design, construction, and security level. Regular locks are typically used for interior doors, such as for bedrooms and bathrooms, and provide minimal security. They are easy to install and use, often featuring a simple locking mechanism on the inside. In contrast, a deadbolt is one of the most secure locks you can install on an exterior door. Its internal construction is designed to withstand significant force, adding a crucial layer of security that can deter intruders. While deadbolts may be more expensive and complicated to install, they are cost-effective for the security they provide and are built to hold up to wear and tear.

Keyless locks are great for convenience, letting you unlock doors with a code or your phone so you don't need to carry keys around. They also often come with helpful features like temporary codes for guests. On the downside, they can be more costly up front and do require batteries that will eventually need replacing. If you value ease of use and additional security features, keyless locks are worth the investment.

Rekeying a lock changes the internal mechanism so that a new key works, while replacing a lock involves swapping out the entire hardware. Rekeying is a good, cost-effective option when you want to ensure old keys no longer work, such as after moving into a new home or losing a key. It's also ideal if you want to keep your existing lock hardware. You should opt to replace the locks entirely if you want to upgrade to a more secure or different style of lock, if the current lock is old or damaged, after a break-in, or if too many copies of the old key exist.