I am buying a house built in 1948 right now. I noticed it currently has a fuse box outside and a circuit breaker panel inside the house (2 circuits I believe).

My question is how much would it cost to convert the current fuse box to a breaker? (I know this can only be a very rough ball park) Also, I think the fuse box is currently over fused (4 - 30amp fuses). Would there be an added cost if that is truly the case. As well as the cost, should I get rid of the current breaker panel inside the house and add everything to one?

The best advice is to call at least three local electrical contractors to get prices... prices can vary a lot from place to place.
Usually a 200 ampere service is appropriate these days and will give you room for expansion... etc.

Yeah I will likely get several quotes. I was just trying to ball park, for example ($1000-1,500) or something like that. Basically I'm trying to price out (roughly) everything that needs to be done before I move in. It would be nice to know about how much cash I need. If I don't have enough I'll know what I need to prioritize. It's my first house so I just want to do everything right but without over extending my finances.

Can you tell us generally where you are? Are there any unusual circumstances? Is this in a city? The middle of a forest? Near the shore?
Is the dwelling all electric? Does it have natural gas? Do you know the square footage and number of floors?
With most of the above information, a few over the phone estimate calls to local sparky's may also be a good idea...

Well, since location is one of the most variable factors, and we have no idea where you are, and really can't tell exactly what it is that needs to be done, it is impossible to even come close.

My guess would be $800-$3500.

I'm located in San Jose, CA (large city). The only "unusual" circumstance is the fact that it looks like the current fuse panel is over fused. Looks like they put too many things on each fuse (this I can have friends fix with me). It's a single story house 3 beds, 2 baths and has about 1080 square feet. There is no family room, just a living room, kitchen, beds and baths. Stove, water heater and drier are gas. I can't get estimates at this current time because I don't own the house yet, we are still in escrow. I will definitely get estimates once we close though. Thanks for your help by the way.

-Bryan

Hey Bryan,
Explain what you just said over the phone to a few electrical contractors and ask them to estimate a 100 ampere electrical service...
Here in South Jersey that would be about $1,000 to $1,500...