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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.

A keypad deadbolt, a lock requiring a code entered on a keypad entry, can be a convenient option for families with children coming in and out and needing access to the home. It can also offer an easy solution if you rent your home out, since you can easily change the code as needed. So, depending on your home entry’s needs, a keypad deadbolt may be worth the extra expense.

Standard residential deadbolt locks come with a steel bolt that locks your door into place using a key (or keypad) on one side and a thumb turn on the other. When you lock it, the bolt slides into a strike plate on your door jamb to secure your door shut.

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.