Chutney, jam, truffles. All these can be tarted up with beautiful labels or packaging to look easily as nice as anything that was bought.
With truffles, you can make your own box out of plain black/dark card, make a sort of grid out of cardboard to sit them in and wrap each one individually in pretty coloured tissue paper. Cut a snowflake out of another colour of tissue in the right size to sit on top and do dots of silver glitter and a very smart ribbon tie on the outside. IKEA always has cheap and smart-looking ribbon. Go for something that looks like real ribbon rather than gift tie and it will look much smarter. I got 4m of smart duck egg blue silky ribbon for about a quid in IKEA last year.
With jam/chutney, do handwritten labels with the date you made it. If it's your own fruit/veg, also include the season you harvested it (eg Summer 2008). Get a proper smart italic pen to write with and get stickers to stick on or draw a suitable fruit/veg, scan it in and print labels with that on. Also do a circle of pretty fabric held on with a rubber band or ribbon for the top.
Fudge and stuff are lovely in cellophane bags tied with pretty ribbon, too.
I think with homemade presents, it's all about the presentation if you don't want it to look cheap.