It would also make sense if you happen to have some nice 12V power supplies already
That's what I was thinking, but would disagree with it being a good reason for this. It will probably not cost much to buy the correct power supply and save the 12V ones for another project. In the past I've made some poor design choices because I resorted to using what's available, rather than being more patient and ordering the correct part. Fair enough, the part is expensive or takes too long to get, then it makes sense, otherwise it's generally better to wait and spend a little.
or if something else you also want to power requires 12V.
That makes more sense, but if the 12V device is small, compared to the 5V device, it begins to make more sense to use a 5V PSU and a boost converter. Of course this is assuming the cable length is short, otherwise it's better to transmit the power at a higher voltage, though a long cable, as previously mentioned.