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Thanks again for all the suggestions--I *think* we've decided on Roatan. I'm sure I'll be posting with more questions soon. I definitely think we'll be taking these suggestions and going to these other places, since I'm going to need low budget dive trips for a few years Thanks
Check out Reef House Resort if you want the quieter side of Roatan, near CoCo View, if you like.
Ambergris Cay on Belize would be my second suggestion, we had the whole lower floor of Casa Caracol there for 5 of us several years back, the owners lived upstairs then but evidently now rent the top half out as well. Note the rates are not per person, but for the whole floor.
Roatan is a great place for "cheap" vacation. I would recomend staying on "the west end" ... lots of economical lodging choices - pick up any lonely planet book on the area. Dive shops will ask $25 per single tank dive, if you tell them up front that you will do at least 10 dives with them it should be easy to talk them down to $20/dive.
I liked Roatan. Stayed at Fantasy Island. All inclusive for like $600. DO the shark dive while there. Very cool. I also liked Belize. Stayed on Caye Caulker. Two people in "honeymoon suite" for $800 ($400/person), but dives and food were additional.