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I'm ready to reroof my house and want to consider an elastomeric coating rather than replacing the existing shingles. I'd use a local contractor either way

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If what you are asking is if you should coat old shingles with a elastomeric coat instead of tearing off the old and replace with new, I think the answer is no. Such rubberized compounds are normally used for short term repairs (2 to 5 years) on damaged shingles on a pitched roof, and as a seam sealer on rolled roofing for flatter pitches. If your shingles are failing, coming loose or have cupped or distorted with age, coating them most likely would be a very short term fix. The underside of the shingles will continue to fail, making an expensive coating project a waste of money in my opinion.

If I have missed the point of the question, I'm sorry. If the situation is different, the answer may change a bit. But normally, i'd never use an eleastomer coat over old worn out shingles.

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I'm asking if it's advantageous to tear off the shingle roof and install an elastomeric roof over the original decking instead of new shingles. The house has a typical pitched roof with the usual hips and valleys. –  tuc1labar May 27 at 16:14
    
Are you talking about a roll on like Grace Ice and Water Shield? –  shirlock homes May 27 at 19:11
    
I don't yet know enough to answer that question. Years ago I helped roof an addition that included a fabric base with an elastomeric top coat. I'm picturing something similar-all of the leak protection of shingles, easy maintenance and high (70%) reflective value to help keep the roof cool. –  tuc1labar May 27 at 19:46
    
not sure what product you are talking about. Up here in the north we use Grace for a shingle underlayment. Most elastomers are in a liquid form and come in 5 gallon buckets. –  shirlock homes May 27 at 20:07
    
Here in Southern Oregon, we have a company called Duro-Last that fabricates Elastomeric Membrane Roof covering. You can get a whole prefab roof or by the roll for contractors. –  Fiasco Labs Jun 27 at 1:16
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