How would the cost of converting a duplex compare to just buying a new home?

A friend of mine converted a duplex in the Garden District near New Orleans. It's time consuming work while you live there but may have benefits. If the cost of a new home in your area is about $150 sq. ft, and up, then you have a base to compare square foot. Although a historic home will need many things brought up to code, you'll have a piece of history in a wonderful area. If you love the area, your home and property, then it's worth the remodel. My friend did a simple conversion and it was beautiful. The entire front of both sides became the living area and they left much of the "shotgun" floor plan the way it was. Sounds like you'd have a bedroom with a fireplace and that could be a plus. If the house is raised, it should be easy to move plumbing around. Electrical has to be re-done. Not sure if you have roofing or water issues. The real question is not cost, but rather "value" of this historic home.