How to replace your roof

Consider energy efficiency

Another factor to consider is energy efficiency.

"There are Energy Star-rated roofs available today which reflect radiant heat, keeping your home naturally cooler in the summer," says Todd Miller, president of Classic Metal Roofing Systems in Piqua, Ohio. "Many of the Energy Star-rated roofs are metal products with special coatings that reflect radiant heat even in dark colors."

These roofs can reduce energy costs by 20%, he says. Specially manufactured tile and asphalt roofs can also provide significant energy savings. You’re most likely to see a difference in your energy bills from a reflective roof if you live in a hot and sunny climate, your roof is not shaded, your attic is not well insulated and you run your air conditioner frequently, according to the Environmental Protection Agency.

A federal tax credit of 10% on material costs for Energy Star roofs can help offset what you pay. The tax credit applies to metal roofs with pigmented coatings and asphalt roofs with cooling granules. It also applies to insulation. The tax credit maxes out at $500 (10% of $5,000).