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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.

Security experts recommend deadbolt locks as the most secure option for a house's exterior or entry doors. Deadbolts provide the best security because they can prevent most types of forced entry and are harder to lockpick. Common types include the standard single-cylinder deadbolt, which is often found on front doors. For enhanced security, you can opt for a double-cylinder deadbolt, which requires a key to operate from both the inside and the outside.

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.

Many local hardware stores have the equipment to copy basic keys at a low cost. Some locations may have freestanding machines where you can pick out a blank and insert it and your original key into the duplicating machine.