Ket, I knit a lot. How do you pick your sizes and what type of garments do you prefer. Do you do a guage swatch?
I have a few suggestions that may help.
1. Structure somewhere. Angie has some posts about using structure in an outfit to reign in oversized clothing. You can use other garments paired with the oversized garment to create structure, a belt, maybe show your ankles, etc.
Structure in the garment: Many of the popular knitting patterns are for top down, no seaming required garments. This creates saggy and loose garments that stretch. It’s a look that works for some, but it can get too overwhelming IMO when too oversized which would happen if you lose weight. Structure in the garment would include something like fitted shoulders or sleeves, or even some sort of waist band or built in wrap belt effect. Structured knits with fitted shoulders can seem like more work since they are often created in pieces and then sewn together. If you knit bottom up instead of top down, you improve the sag factor a bit. Another way to add structure to the shoulder is with saddle shoulders. These work in top down construction and are not difficult.
With fitted shoulders and or sleeves, the rest of the garment being loose appears more deliberate and perhaps pleasing to the eye.
2. Negative ease is your friend. When you pick sizes, since your weight fluctuates, I would knit to the exact size you can tolerate wearing as a body con fit, knits always stretch, it’s harder to shrink them. I hope you make a guage swatch and check guage as you knit. In your case it would be important to wash and dry the guage swatch to see if the swatch stretches. If it does, I usually make a second guage swatch so I can compare with the unwashed guage but base my measurements on the washed guage. (I hope that makes sense). You may also want to use negative ease when picking a size. I like a sleek fit so I never pick a size with more than 4 inches of positive ease. For example if my chest circumference is 32 inches, never larger than 36 inches.
3. Superwash wool always stretches, as you probably know, and so do cotton and linen. Once again, negative ease. I have had luck going 2-4 inches smaller than my measurements without any concern. If my weight is higher the garment is a bit more fitted and if my weight is lower it is more fluid but not baggy. Personally, I love working with non-superwash wool. I find the sizing more reliable and it can be stretched a bit with blocking although shrinking takes care, it can be done in a dryer….watch closely for felting and overshrinking!
4. Under layers…I think someone mentioned this already. Wear a pretty camisole or top under your knits and show off your beautiful handiwork. Who cares if they are a bit big or baggy, they are unique one of a kind pieces of art. Show off your talent!
5. I’m not sure how long it takes you to knit a garment. Are you the type who does one project at a time or do you have multiple projects on your needles? Is your weight always in flux or is this something that is current and you expect your weight will stabilize again. Does your weight change between seasons? Historically, mine has. I tend to lose about 8 pounds in the warm months and gain it back in the cool months. It hasn’t effected my size much but if it did and I were knitting something for warm weather in the winter, I would pick a favorite garment from my wardrobe, that fits well in the summer and use its measurements as a guide, It typically takes me 3-4 weeks to complete a knitted garment if it is the only thing I am working on and much longer if I have other items on my needles. Knowing how long it takes you to finish a project can be helpful. Currently, I have 8 projects going at once, so I am not doing any sweaters. I find it helps me to focus on one or two items only when I am working on a sweater.
If you think this is a temporary weight flux that will stabilize, I would switch to knitting accessories for a while until you’re more certain of your weight and then pick something to knit. Socks, hats, shawls, mittens, bags, etc. I’m working on a blanket right now and practicing some techniques…intarsia, cables, and stranded colorwork.
6. When I knit anything, I know there is a chance I will not like the end result as much as anticipated or that it will not fit well. I have adopted the attitude that each knitting project is there for me to enjoy, to learn something new, and in the end, if I do not love the item for myself, I look for someone who will love it. I have found many knit-worthy friends and co-workers. I am also a fan of frogging a project if I decide it’s not going to work. I can restart a new size or maybe pick a different pattern. If I decide it’s the yarn I don’t love, I gift it or donate it to someone.
In some cases the collar gets too loose. I know that is not what you are describing however, maybe the same solution can help with a loose garment, I have seen people do it but cannot say how well it works. (It does work for a collar.) You might try using some invisible elastic to reign in a project. There are tutorials for this on YouTube.
If knitting, which I love, leads to stress instead of joy, it would be time to rethink whether it was worth the time and effort. You are correct that it takes a lot of time and energy to create a garment and if you are not happy in the end, then, I do think you may want to consider another method, like sewing.