Well, if we are all going to throw in some cents, here is mine.

Definitely use the good fabric and don't wait for your goal, whatever that is. I read on your blog what the number was, but have since forgetten it. I do remember that as of your last post you had lost 11 pounds. Congratulations!!! Every pound lost should be a major celebration. But 11 pounds is probably not enough for you to change a size. My experience is it is more like 15 pounds. And the more you have to lose, the longer it might be before you need that next size down. In my case I was closer to 20 pounds.
And it will depend on where you lose. We are all different and lose weight in different areas first. I read somewhere that you lose first in the last place you gain, but I don't know if that is true. In my case I lost first in the abdomen/hip/butt area. This caused my pants to droop in the crotch area. I had to down to a smaller size or look frumpy. As for tops, I could have worn the larger tops, but they bagged out in the waist hip area. Plus all the knit tops I made with darts had to go, the darts were not in the right place and did not hang right on the body. This is at a 26 pound loss, which I happen to be stuck at for now. I have gotten back on track after vacation and stuff, so I should start reducing again soon.
So what can you do? I don't like to give advice on this because it makes me sound like an expert, which I am not. What I did was go and buy a whole new summer wardrobe, just summer only. I had to. I was leaving on vacation to the tropics and needed the clothes quicker than I could make them. I figure that by fall I will have lost more weight and definitely by next summer I should be down enough that I will need a new summer wardrobe again. But it is worth it. Our health is far more important than the cost of anything.
I did make some pieces though. My knit tops are made without darts. I believe that as I lose the weight, I should be able to take them in on the sides and in the sleeves to a certain degree. I have not made pants yet because I have been limited on time so I can't tell anything new there. For skirts, you can make them with elastic waistbands. Or if you don't like elastic waists, you can put a zipper in the back and make styles that you can take in on the sides. Again this will work to a certain point and then you will have to donate it.
But I also look at this way - make all you want there is always good fabric out there. If you use what you have now, you can always buy more. And once you reach the ideal goal weight, a whole new wardrobe will do wonders for the soul. In fact it will feel good each time you have to do it. In my case I am stretching it so that I buy or make new clothes for every other size dropped. I am finding that one size is not enough overall to change everything, but two sizes to large starts to look frumpy. You won't believe how much of an inspiration it is to lose more once you see those lower sized clothes on you. Good luck!
HTH,
Linda
Who just put in 2 dollars worth instead of 2 cents.