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Example usage:

This project is something of [noun] - we spent six months building it, and now it's functional, but there are several things that require tweaking and maintenance to make it really professional.

I don't necessarily mean that the project is overall a waste of resources - just that it's costly.

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    Like an aircraft carrier, which may be useful but is expensive to build and maintain? Or a boondoggle like an amusement park that doesn't bring in enough money to cover the extensive ongoing costs of maintenance and personnel?
    – Xanne
    Sep 13, 2017 at 6:25

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white elephant:

  1. An expensive item that is troublesome or useless.

The term comes from a story about the king of Siam, who was said to have given an albino elephant, considered sacred, to a member of the court whom he disliked, knowing that taking care of the animal would exhaust the person's fortune.

At first, Eve was excited to inherit the farm, but it soon proved to be a white elephant she couldn't afford.

Maybe it's suitable; something close to your search.

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    What I don't like about white elephant, is that it implies that the thing is inherently useless. This isn't the case in my situation. The project has value, but is costly to maintain/get to releasable quality.
    – dwjohnston
    Sep 13, 2017 at 6:38
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Making a rod for your own back:

Essentially, providing a solution to a problem, but one which creates further future problems to maintain it.

(Cambridge Dictionary)

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cost somebody dear

if something that someone does, especially something stupid, costs them dear, it causes them a lot of problems

Example:

Later that year he attacked a photographer, an incident that cost him dear.

Usage:

This project costs us dear - we spent six months building it, and now it's functional, but there are several things that require tweaking and maintenance to make it really professional.

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