
I made loose covers for our furniture, and although the fabric
said it was pre-shrunk I'd certainly recommend washing it again to make sure, because mine shrank at the first wash.

It'd be a pain to iron, though.
I made a pattern by carefully unpicking the old cover and pinning it directly to the new material and just went for it. It's not a bad job for a beginner (still holding up after 5 years) and saved about £800.
Good luck!