sweater fabric

[leahseraph.livejournal.com]

My local fabric store sells fabric that is essentially loosely knitted like a sweater would be, and beautiful. It's also cheaper than the yarn and time involved in knitting something myself. I want to make a loose, comfy sweater our of it, and I think I can draw up the pattern myself...but how would I go about hemming it? And is there a trick to sewing it? It's fairly loosely knit so I'm not sure how it'd work out...

(and yes, I did check the FAQ, and couldn't find anything that answers specifically what I want to know)