Been down this rabbit hole myself when I was speccing out the van build. The short answer is: it depends what you're actually running.
48v makes a lot of sense if you've got higher loads — I went 48v partly because I wanted to keep cable runs manageable and losses down. Dropping to 12v means you're pushing four times the current for the same wattage, which is where things get expensive (and hot) fast.
That said, 12v has its advantages in a van or smaller setup:
- Massive range of native 12v kit — fridges, lights, fans, all dead simple to wire
- Cheaper inverter options from brands like Renogy at the lower end
- Easier for most folks to troubleshoot
If you're rebuilding, the real question is what's driving the change? If it's about adding more 12v loads, a Victron Orion DC-DC between a 48v bank and a 12v bus is honestly a cleaner solution than a full rebuild. I run mine that way for the van's native 12v stuff.
Also worth asking — what cells are you actually working with? Rebuilding a 48v pack (typically 16S LiFePO4) into 12v (4S) is doable but you'll have leftover cells unless your count divides neatly.
What's the full picture of your setup? Curious what's pushing you toward the rebuild rather than bridging the two voltages.