You might be able to find a used Fender Mexican strat for closer to the price of the new Squier.
The Fender will likely have better wood for the body, better pickups, better electronic components. Not sure if the necks are different - I've heard mixed things.
Anyway, I've played both recently while helping a friend shop for guitars, and there was a notably better "feel" to the Fender.
Mitch
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