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Is it worth buying this "Squier with upgrades"?

Even a used (or new) Yamaha BB300 would smoke that bass. Like many have already said, save a bit more money and get a used MIM P or J, or spend what you have and find a Yamaha or Ibanez.
Welcome to TalkBass. Be sure and post a pic when you find what you are looking for.

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Edit: If you list your general location you’d be surprised at how many members can help you find good deals on Craigslist. Just checking in my area I see at least 6 basses that would fit your bill, some even saving you money. And that’s just a cursory glance.
 
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As pretty much everyone else has already stated, but in honor of May the 4th, "This is not the bass you are looking for."

Many people seem to think upgrading some of the parts somehow translates into an increased value of an instrument. In almost every case it does not and in some cases, it can even lower the value. In most cases, one part is being swapped out for another. In the case of this bass, this is what is happening and as such there really is no added valued with these upgrades. If the parts were premium parts you might be able to bump the price a little but even then it's debatable.

Not that this is the case with this bass, upgrades to a bass with specific features such as a Signature model or a vintage reissue can actually lower the value of these. If you do end up purchasing one of these basses, you should always ask for the original parts.
 
First time poster looking for some help. I'm looking for a pbass. This local guy is selling this Squier for $250 but I think I can talk him down to $210-220. He says that he's upgraded the pickguard, tuners (Wilkinson), pots, knobs, and "electricals". He says the only thing not new is the bass body, neck, and pickups.

The hang up I'm having is whether or not to grab it. I know I can get a VM squier jaguar for $250 but how would the hardware compare to this guy? Also I prefer passive to active pickups and I'll probably eventually change the ones on the bass I'm posting about. So all in all maybe $300 invested in this guy which is the price of the VM pj bass Squier. Not sure which to go for. Any help would be appreciated.
I'd go get the new one instead of trusting the guy's handy work. The head has no label, the tuners are huge on the back of headstock, and I, personally, don't care for the color or the bridge cover. Me, I'd go get the jag. At least then I'd know what I'm getting.
 
When someone changes parts, using cheap parts, and not knowing what they're doing, they're....not "upgrades". Walk away, run away, skip away - do whatever you want so long as its "away".
 
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It could be a parts bass. And that would be questionable quality on the parts. I would save the cash, and build up a bankroll for a higher end bass like the ones out of Indonesia that are licensed by Warwic, Yamaha, Ernie Ball, Sadowski, Reverend, G&L, etc...

However, if you get a chance to sample the bass, and it feels good, sounds good, and is what you want, get it.