My Squier Strat at the moment has a Maple Neck, rosewood fretboard and basswood body, which is exactly what a CIJ Jap strat 62 re-issue I'm looking to buy has... What exactly would be the difference? Would I get the same sound?

The fender will have better build quality, so will last longer (and maybe play better). Fender use better pickups than Squier, so just do a pickup swap.
Quote by Kensai

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probably better pickups and the fender logo
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pickups/electronics and hardware mainly, so it wont sound the same... also even though they are the same woods, the Fender will have a choicer cuts which will affect your tone aswell
Yeah, I mean if the actual quality of the cuts for the Fender wood is going to be better, then I may as well upgrade since I can get it at a good price, because at the moment my Squier sounds like shat, and I hope the Fender doesn't sound like crap either (thinking of getting it over the net).

But thanks for the tips
well you could do a pickup swap on your squier first, it might make your tone not quite so shat I put a Dimarzio HS-3 on my old japanese squier (alder not basswood though) and the difference was huge
You're paying for better parts, and a higher consistency in quality. You can pick up a Squier in a shop and it might play beautifully, while the one next to it is a complete dog. As you get higher up in price, this element is removed. Japanese craftsmanship is superb, as good as any American Standard I've played recently.

My CIJ '62 RI Tele came with Custom Shop pickups too, which was a nice bonus. You also get a thinner finish (Polyurethane rather than Polyester), nicer fretwork, better hardware and wiring (though upgrades can still make it much better), and higher quality wood (usually no more than two or three pieces for the body).
It's much better to just change the pickups on your Squier, and save the other money for a new amp or some effects.
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Quote by BoogieManMKD
It's much better to just change the pickups on your Squier, and save the other money for a new amp or some effects.

Not in the long-term - but yes, it'll only ever sound as good as the amp it's being played through.
probably less difference than most people would have you believe.

play it loads before you part with your cash.
Thank you please.