Rekeying door locks yourself costs a fraction of what you would expect to pay a locksmith. On average, it costs between $50 to $100 to hire a local locksmith to rekey your house, though labor costs may vary based on where you live. For a DIY solution, you can expect to spend $11 to $25 on a rekeying kit.

Typically, it can take around 15 minutes to rekey a lock. The time depends on the type of lock and how skilled you are at rekeying. The first time you rekey a lock, it may take a little longer. Once you get the hang of the process, it will move along much more quickly.

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.

Keyless locks are often considered safer since they’re protected by passcodes instead of a physical key, making it harder to be picked. However, they are not infallible. And like all electronic devices, outdated models are more prone to problems and safety concerns. If you’ve experienced multiple lockouts in the past year, or your lock is responding slower than usual after you key in the passcode, it might be time to upgrade to a newer one. Even if your lock is working fine, you should still change your access code at least twice a year.