Residential & Commercial Security - Locks, Keys & Dead Bolts - Re-key or buy new locks?

I just bought a house that has multiple outer doors and lots of locks... 5 deadbolts and 4 handle/thumbturn locks. The sellers only gave us 1 key that works on the front door and not on any of the other locks.
What is more cost effective:
1) Hiring a lock smith to get everything re-keyed
2) Buying all new locks

I see re-keying as an advantage since I'll then have one key for all the locks.

A lot would depend on the brand,condition and whether or not all those locks are the same brand and can actually be keyed alike.

If it's a mixture I'd think about either replacing all or replacing the odd ones.If they are old that too is a reason to think replacement.

Then there's door design and strength and if your area is subject to crime.

If they are all the same brand or have the same keyway, then re-keying would be best...IF they are good quality locks or you just can't afford new ones.

If they are typical low-end home center locks..then you would be better off buying all new that are keyed alike.

Yer in CA, kinda higher cost area, but where I am rekeying the typical residential lock is about $10-15 per cylinder. Normally a minimum service charge of about $75.

Typical deadbolt and handle at a home center is $25..they aren't the better quality you can find at a locksmith shop.

Rekeying is definitely much cheaper than purchasing new locks.
You maintain exactly the same hardware and fittings, just get new keys. It makes much more sense.

The front door has a Baldwin deadbolt. The rest are all the same brand: Kwikset. I'm thinking of buying a new one for the front door and getting the rest re-keyed.
I got two quotes from lock smiths, one was $250, the other was $131 ($35 service charge + $12/keyhole).

Although the Baldwin is a better quality lock,you cannot match it to Kwikset.Kwiksets are adequate quality and will do well enough though many brands are considered better quality.Kwiksets are probably the easiest brand to rekey and it will be a quick easy job for the locksmith.

I'd buy new locks and I'm not a fan of Kwikset, so I'd go with something else. Had Kwiksets on the house I just sold and they weren't as durable as I thought they should be.

USCAN or GMS make cylinders in SC1 profile to enable Schlage/Baldwin locks to be keyed alike with Kwikset cylinders. It would be far cheaper to rekey the Baldwin onto the Kwikset profile than replacing the Kwikset with either Schlage or Baldwin products.

Unless you truly want to pay the significantly increased price for the quality of Baldwin, you would be equally well served by just getting a cylinder to match the existing Kwikset hardware line, IMHO.

I meant KW1 profile cylinders to enable keying alike with Kwikset

I went with hiring a locksmith to have everything re-keyed. It cost much, much less than it would have been to buy all new locks. Thanks everyone for your input!