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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.

The cost-effectiveness of fixing or replacing a door lock depends on the severity of the issue. Repairing a minor problem, such as loose screws or a need for lubrication, is usually cheaper than replacing the entire lock. However, replacing the lock if it is severely damaged, outdated, or lacks security features may be a better long-term investment. New locks often have improved security features, enhancing your property's safety.

The benefit of deadbolt locks is that they're much harder to force open than simple locks with pin tumbler mechanisms, so they may offer added security. This feature is why many locksmiths recommend deadbolts for home security. For many households, this added protection and peace of mind is well worth the cost of installing a deadbolt.

You might assume that having two locks on one door will offer more protection than only one lock, but there may not be an advantage. While there’s nothing wrong with having two locks if you feel it’s best for your living situation, rest assured having one high-quality deadbolt installed correctly will offer a high level of protection.