I used to sew a long time ago, too. I gave it up when it seemed all the nice fabric shops were closing. Just like with knitting, if I'm going to put the time and effort into constructing something, I want it to be made out of good quality fibers. But I can definitely see where you could save a lot of money making your own wardrobe or at least some of it.
My next voyage into sewing is going to be quilting. I have wanted to quilt for a long time and years ago began acquiring fabrics and notions toward that end. The owner of a quilt shop not too far away offers private lessons at a reasonable rate so I think I might take her up on that in late April after the tax season is over here in the US. I have done some studying and there are lots of tips and tricks when piecing that I think are best learned in person from someone skilled at doing it. At least, based on the way I learn best, I think that is the way to go.