Drilling out a lock cylinder can be a tricky task, and it’s important to approach it carefully to avoid damaging the door or lock mechanism. First, ensure that you have the right tools: a power drill, a set of drill bits (preferably cobalt or titanium), and safety goggles.
Start by inserting the drill bit into the center of the keyhole. You’ll want to use a smaller bit first, around 1/8 inch, to create a pilot hole. Gradually increase the size of the bits until you reach about 3/8 inch. This should help you break through the pins inside the lock.
Keep in mind that this method may not work on all locks, especially high-security ones. Additionally, drilling a lock can damage it beyond repair, meaning you'll likely need to replace it afterward.
Costs for replacing a lock cylinder typically range from $50 to $200, depending on the type and location. For best results, consider hiring a licensed locksmith, especially if you're uncertain about the process. They can drill out the lock safely and replace it.
As a next step, I recommend getting 2-3 local quotes on Handyman.com for locksmith services.
— Assisted answer