I need to do some underwater filming for a short film I am writing, just a small part of the film but vital. Would only be 5 feet or less below the surface. I bought a Canon XH-A1 ($3500) and I *could* get an underwater housing for it for about $3000, but that is a bit expensive and I am not sure I would really trust the housing--I just can not envision putting the XHA1 underwater for fear of ruining it. Thoughts? Ideas? What about if I were to buy a cheaper $300 HD Widescreen camcorder just for on water and underwater sequences, for the little bit that I would do those, and get a cheap ($300 or so) housing for such a cheap camcorder? I would have add sound anyhow for anything underwater, so the lack of an external mic on a cheaper camera would not really matter. 99% of my filming will be land-based, I just see myself doing some sequences a few feet underwater, or on the water surface.
If you're in a big city you can probably find underwater housings to rent, and that will save you a lot of money. You might even find a professional who'd shoot that footage for you with their own camera for a relatively small amount of money if they don't have a 'proper' paid job that day.