When moving an electrical panel box, there are four areas listed by National Electrical Code (NEC) at 240.42(C,D,E,F) where a panel cannot be located:
1) Where exposed to physical damage.
2) In the vicinity of easily ignitable material. Clothes closets are specifically noted as an area with easily ignitable material (hanging clothes).
3) In bathrooms.
4) Over steps. 

Plus, there are also four other location considerations:
a) The panel must have a clear working space in front of it that is 2.5 feet (30”) wide, 3 feet (36”) deep, and 6.5 feet (78”) high [NEC 110.26 (A)(1&2)].
b) The 2.5 foot width in front of the panel does not have to be centered.
c) Storage is not allowed in the required working space, per NEC 110.26(B)
d) The panel door must swing open a minimum of 90º, per NEC 110.26(A)(2).

And there might even be one more. If your local building department has adopted the 2020 NEC for their inspections, then you will also be required to have a main disconnect box on the outside of your home in a readily accessible location. To learn more, go to What is the fireman’s switch emergency disconnect requirement for residential electrical service?

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Field Guide for Home Inspectors, a quick reference for finding the age of 154 brands of HVAC systems, water heaters, and electrical panels, plus 210 code standards for site-built and manufactured homes, and the life expectancy rating of 195 home components. Available at amazon.com for $19.95.
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Here’s links to a collection of our other blog posts about ELECTRIC PANELS:

• Does a subpanel have to be the same brand as the main panel?

• What causes copper wires to turn green or black in an electric panel?  

• What is the maximum number of circuit breakers allowed in an electric panel?

• When should a corroded or damaged electric panel cabinet or disconnect box be replaced? 

• What is a tandem circuit breaker? 

• When did arc fault circuit interrupter (AFCI) breakers first become required?

• Can you add circuit breakers by different manufacturers to an electric panel if they fit?

• My circuit breaker won't reset. What's wrong?  

• What is a split bus electric panel?

• Why is a fuse box/panel an insurance problem for homebuyers? 

• Why is bundled wiring in an electric panel a defect?

• What is the difference between GFCI and AFCI circuit breakers? 

• Why are old electrical components not always "grandfathered" as acceptable by home inspectors?

• What happens when you press the "TEST" button on a circuit breaker in an electric panel?

• What is a Dual Function Circuit Interrupter (DFCI)? 

• What is the difference between a Combination Arc Fault Circuit Interrupter (CAFCI) and an Arc Fault Circuit Interrupter (AFCI) circuit breaker?  

• What is the difference between "grounded" and "grounding" electrical conductors? 

• What does it mean when a wire is "overstripped" at a circuit breaker?

• Why is an old fuse panel dangerous?  

• Who is the manufacturer of those "bad" electric panels?

• Why is the circuit breaker stuck in the middle? 

• What is a double tap at a circuit breaker?

• What is the right electric wire size for a circuit breaker in an electric panel?

• What is the life expectancy of a circuit breaker? 

• My circuit breaker won't reset. What's wrong? 

• What is the maximum height you can mount an electric panel above the floor? 

• What is the code required clearance in front of an electric panel?

• What is the main bonding jumper and where do it find it in an electric panel? 

   Visit our ELECTRIC PANELS page for other related blog posts on this subject, or go to the INDEX for a complete listing of all our articles.