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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.

Thieves can open almost anything with enough time and the right tools, but they also prefer easy targets that are unlikely to get them caught. Forcing open gates is loud and difficult, and to be able to open one electronically requires extensive knowledge of the system, which most thieves don't have. Electric and other security gates are great deterrents because the thief will move to an easier target. If the thief is determined to enter your property, they will most likely find a different entrance point.

The good news is that, yes, you can change locks yourself. Many people find it’s an easy DIY project that requires few tools and not much expense (depending on which lock you’re installing). If you have trouble with any part of an installation, you can always call a locksmith to help finish installing them.

There are several situations when you should change or replace your locks to ensure your home's security. Key moments include moving into a new house, after a break-in or attempted break-in, or when a roommate or anyone else with a key moves out. It is also wise to change your locks if you lose your keys, especially if they have an address attached or you suspect they were stolen. Finally, if your locks are old, broken, worn out, or have become unreliable, they should be replaced.