For home locks, I think that the proper way to analyze it is to think about money, and more specifically insurance. You put the kind of lock that will please your insurance company; with a custom lock, chances are that your insurance company will ask for more money every month -- or refuse to give you money if you are burgled (even if the burglar came in through, say, a window).
About PIN: PIN codes usually have relatively low entropy (only 10000 combinations with 4 decimal digits) and rely on auto-locking (e.g. the system which expects the PIN locks itself out after three wrong PINs). For a home door, this is not very good: you do not want to be locked out of your home because someone came by and idly played with the available keyboard. So you would need a relatively large PIN code, e.g. 8 digits. Also, PIN codes are susceptible to side-channel leakage: if you type the same code every day, the involved keys are likely to experience premature wear, revealing which digits are used in the PIN code.
You probably want to be able to enter your home even in case of a power shortage -- and you do not want to have your door opening automatically in that situation (see the Die Hard movie for an illustration). For that reason alone, I would recommend against your idea.