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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.

Security systems are one of the measures that deter burglars the most. Research suggests most burglars look for signs of a security system before going in, although the presence of a security system doesn’t automatically mean they won’t enter the home. However, a security system with cameras can decrease the chance of a burglary overall.

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.

One of the best tools for removing a stripped bolt is a handy pair of locking pliers. Locking pliers can usually grip onto screws with a broken, rounded, or stripped head and lock in place so that you can loosen even the most stubborn bolt that would otherwise remain hopelessly jammed.