Your dentist will first check if your tooth can be saved and if not will recommend you for an extraction. Whether a root canal is better than extraction depends on the condition of your tooth.
Root Canal vs. Extraction
If the pulp (which includes living blood vessels, large nerves, and connective tissues) is damaged but the rest of the tooth structure is strong and stable, the dentist will recommend a root canal. However, if there is structural damage to the tooth along with severely damaged pulp, the dentist will recommend an extraction.
In a root canal procedure, the area near the tooth and the nerve will be numbed, the dentist will clean the pulp, and a material called gutta-percha is filled in to protect the area from further decay and damage. A crown is often placed on top to make the new structure strong and look great.
In an extraction procedure, you will be given local anesthesia to completely numb the tooth area. Then the oral surgeon will slowly loosen the tooth and pull it out using special tools. After an extraction, an antibiotic will also be prescribed.
What Is Cheaper?
If you consider just the cost of the standalone procedure, an extraction is cheaper. The flip side is that in an extraction, there is a missing tooth you need to get replaced either through an implant or bridge, which adds cost. Dentists usually prefer extractions only when the tooth is damaged beyond repair — their first choice will always be to save the tooth.