locksmith

Factors that Influence the Cost of Rekeying Locks

By January 19, 2022 No Comments

Are you torn between replacing or rekeying your exterior locks on your home or business?

Do you know how much it costs for each of the two options? Lock replacement is undoubtedly costlier than rekeying, but each of the options has its pros and cons.

On average, a new keyed entry lockset usually goes for $50 to $200, excluding the labor costs.

Therefore, instead of replacing your locks entirely, you can consider rekeying them. Besides being a more convenient option, rekeying is relatively cost-effective, mainly if you’re operating on a limited budget. This answers the question “How Much Does Rekeying Cost?” as on many occasions proven to be cheaper than replacement.

Rekeying an existing lock can sometimes go for as low as $10. Lock rekeying can help strengthen your home or business security without necessarily costing you a fortune. This is because it makes the old keys obsolete, meaning they can’t be used anymore.

Despite this, several factors can impact the amount that you will incur to have your locks rekeyed. That said, let’s look at some things that may influence the amount you will need to pay to have your locks rekeyed.

* THE KIND OF LOCKSMITH YOU INTEND TO HIRE TO REKEY A LOCK

If you have the necessary skills to rekey a lock, you can do it yourself without the input of a professional locksmith. However, in most cases, home and business owners require a skilled locksmith by their side when rekeying locks.

Fortunately, there are tons of locksmiths out there on the globe at the moment. Over the last few years, the locksmith industry has experienced rampant growth, with the US alone registering over 22,000 locksmiths.

Settling on the first locksmith you come across can prove costly as not all are professionally trained. It’s therefore essential to conduct a background check before hiring a locksmith to rekey your locks. Novice and quack locksmiths often charge lower prices than their seasoned counterparts, but their services are always substandard.

Always perform a thorough background check before settling on any locksmith. This will help you to find a locksmith that offers quality services at affordable rates.

* URGENCY

The cost of locksmith services can be significantly influenced by how fast you need your lock rekeyed. In such a case, you will be forced to incur more on rekeying services than you would under ordinary circumstances.

Locksmiths are conscious that various home and business owners can’t wait longer to rekey their locks. That’s why they provide emergency services for such clients.

However, those emergency services are going to cost more than standard services. If you are patient enough for a locksmith to come to your home to rekey your locks, you could end up spending much less on the same services.

* LOCATION

Your home or business location could broadly impact the amount you pay for rekeying services.

If you aren’t based too far away from your preferred locksmith, the locksmith is unlikely to charge the same price they would if you were situated too far away from their workplaces. If they have to travel, the travel expenses will be added to overall rekeying prices, increasing costs.

For that reason, it is prudent to look for a quality locksmith within your hometown or city as this will help you to get rekeying services at affordable prices. In addition, ensure the locksmith knows where your home or business is located in advance.

* NUMBER OF LOCKS TO BE REKEYED

Oftentimes, home and business owners will have multiple locks that need to be rekeyed whenever they hire locksmith services. During the visit, the locksmith will be requested to rekey several locks.

Having the locks rekeyed will save them a lot of money compared to getting rid of all those locks. However, it will increase rekeying costs since the locksmith will have to repeat the same process several times.

With multiple locks being rekeyed, you can quickly strike a deal with a locksmith to charge you less than they would do with a single lock.

Conclusion

As you can see, the cost of rekeying a lock is dependent on several factors. Each of the discussed above factors affects the cost of rekeying a lock.

Therefore, the question “How Much Does Rekeying Cost” is well answered by the discussed above factors.

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