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Building up from squire?

I recently inherited an old 1989 peavey bass from a friend and decided to customize it. It's my first time ever doing something like this and i have to say it's been a real rush. I ordered Villex Precision pickups to put in the bass and it's going to be Batman themed. It kind of has me thinking about buying a squire jazz bass and repainting it putting new pickups in it and calling it my own....but is it worth it?
 
Check local CL ads. Here in KC, Squired pop up all the time really cheap. My Squire was originally fretless and now has a MIM precision neck on it. I had the wiring redone and I'm about to put new pups in it. I LOVE this bass!