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If I was upgrading, I would install a 200 amp box so there would be adequate power in the future.

You should upgrade to a 200 amp service even if your local code does not require it. This will allow you or future owners to upgrade or install new circuits as needed. Also, if you are renovating and you home is World War II era or earlier, most likely the home of this era has cloth wrapped tungsten conductorsand could become a fire hazard. These circuits should be replaced with the properly sized Romex.

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Cloth wrapped tungsten conductors must get very hot seeing as that is the same wire that is used in light bulbs.

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