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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.

Any type of dead bolt lock provides the highest level of safety for a single device. However, it’s also important to determine a lock's grade. Locks can come in either Grade 1, Grade 2, or Grade 3, which indicates how durable it is and if it’s constructed solidly. Safety experts recommend choosing locks based on Grade 1, which offers the highest level of durability.

Rekeying a lock is less expensive than replacing the whole unit. The cost to rekey is about $50 to $100 when you hire a pro or as little as $10 if you DIY. The cost to change a lock is $130 to $500, depending on the hardware you select.

Yes, you should always change your locks after buying a house. Do so as soon as possible after you move in. Otherwise, you won’t know who has working keys to the property, whether they’re spare keys or otherwise. If an intruder gains access to your house with a key, it may not be covered under your homeowners insurance.