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Most electric guitars have pretty simple electronics. Even if you have to replace both pickups it's fairly straightforward. What's the make/model of the guitar?
However...
some water damage
...if the guitar isn't structurally sound it might not be worth it. Does the guitar hold it's tuning reasonably well? If it's a semi with a set neck, did the water get into the guitar around the neck joint?
― slamming on the dubstep brakes (snoball), Saturday, 10 August 2013 21:56 (ten years ago) link
it could just be bad connections to the pickups and/or the switch
Sounds like the electronics are still grounded, so maybe it's just a loose wire or a dry solder joint. Also if water got into the switch, it could have gone rusty.
― slamming on the dubstep brakes (snoball), Saturday, 10 August 2013 21:59 (ten years ago) link
If you have an electrical multimeter, you can check the dc resistance on the pickups to see if they are ok. That would be a good first step, unless there are obvious detached wires.
― waterface down (jjjusten), Saturday, 10 August 2013 22:05 (ten years ago) link
there is a crack near the base of the neck but i can't tell if it's in the neck itself or just in the varnish. the water damage was more than 5 years ago at this point and i did play the guitar regularly for a while in there and didn't notice any problems with the tuning or the crack getting bigger. but yeah i probably wouldn't want to spend hundreds of dollars on it.
it's a vantage vsh, i think a vsh435 based on this page: http://www.matsumoku.org/models/vantage/vsh/vsh.html. again, nothing fancy but i like it because it has a smaller body and thinner neck than most semi-hollowbodies, it's very "playable" i guess.
― congratulations (n/a), Saturday, 10 August 2013 22:31 (ten years ago) link