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Absolutely. An IGP is a black hole for $. From the initial cost to install, the ever-rising cost of chemicals and labor charges for annual openings and closings, it'll hit your pocketbook hard.
But the crux of the matter, as you pointed out so well, the kids grow into teens and young adults fast. Before you know it, they may use it just a few times per season. And on LI the season is maybe 8 weeks, if you're lucky, with perhaps a few outliers of warm May, June and indian summer days.
The killer for me was its attached to what is most people's most valuable asset, their home. Any problems with the IGP and you MUST fix it or it will affect your property value. All of sudden the returns don't work or the drain line is blocked, get ready to have your pocket picked (my last plumbing problem on the IGP cost $150/hour for the dude to come and dig up the flex line).
That's where a nice trailerable Boston Whaler comes in handy. Too much maintenance, too much expense, or you just get sick of launching the boat every time, just sell the darn boat. Not so easy with the IGP on LI.
I can agree with all of the above.My installer Dunrite used a low grade plastic for the IG plumbing That required digging up to replace also when they back filled I waited two seasons and the walk around slabs still sank down and cracked.The whole thing is now a great vegetable garden.