When my wife and I first started dating I bought her a bunch of expensive stainless steel cookware from a restaurant supply store, that we still have. I recently pondered switching to induction, and went around doing the 'magnet' test on things, only to find that those pots and pans are likely not induction compatible.
So the conundrum is... toss the pans I gave my wife over 20 years ago? Or just stick with electric burners.
Try one of those inexpensive induction burners first. I was excited to try them because of the promises you hear about how much better they are, but once I got one, I quickly grew to hate it for everything except boiling water. The temperature control wasn't fine enough. There were only 12 temperature options and there were big jumps between them. The first temp is 140F and the next is 212F. No simmering, in other words.
If you like to cook (and I'm assuming you do, considering that you bought expensive cookware), I would definitely recommend auditioning an induction burner before you go through the expense and hassle of switching out your stove.
According to my research, there's only one burner that is very expensive that works with US power levels that allows you to move in 5F degree increments and uses a thermometer for feedback.
Most of the ones you are referring to are European models that work on 240V. If you know of one that works on 120V, please point me in that direction.
I apologize, I didn't take 120V constraint into account. But even in EU, the cheaper induction stoves are significantly worse than the midrange if one is even slightly interested in cooking.
So the conundrum is... toss the pans I gave my wife over 20 years ago? Or just stick with electric burners.