We have purchased an older house with a 60 amp electrical box. We were told to upgreade to a 100 or 200 amp box. Please explain the reason for the upgrade. If we are not adding additional outlets, does the upgrade just allow more current to be drawn from each outlet? This information will help us to decide what type of upgrade is needed. Thank you.

The reason is usually either the mortgage company and/or the insurance company has adopted the standard of requiring a minimum of 100 amp service entrance, to comply with the National Electric Code, which has required the min to be 100 amps for at least a decade or so.

Perhaps this question for a reason should be put to the entity requiring you to do the upgrade, and why after the purchase of the home is complete.

Most buyers find out a service is in need of upgrade before the closing, either by the mortgage company or home inspector, many times buyers do not know that their insurance company requires this as they don't apply for insurance until after the purchase.

This cost should have, or could have, been negotiated as part of the seller's responsibility.

No, a service size increase does not provide for more current at any outlet in the home. But it will provide additioanl capacity for any new additional circuits or appliances.

As to whether to upgrade to a 100 amp or a 200 amp, the min size service needs to be determined by having an electrican perform service rating calculations, keeping any future added circuits, added rooms, applainces, air conditioning, hot tubs, in mind.