HGTV's 2020 Dream Home Is Officially Here! Find out Where It Is and How You Can Win It squib

HGTV is unveiling their 2020 HGTV Dream Home — and it may just be the best one yet. 

Today, PEOPLE can exclusively reveal that the this year’s Dream Home, the network’s 24th, is located on beautiful Hilton Head Island in South Carolina, which has been named America’s Best Island by Travel + Leisure four years in a row. A 3,500-square-foot, Southern-style estate, the 2020 Dream Home was designed by Court Atkins Group and built by Shoreline Construction, with interior design by HGTV favorite Brian Patrick Flynn

The annual HGTV Dream Home Giveaway is one of the network’s most beloved traditions, as they design, build and give away a fully-furnished family home, in one of the country’s most sought-after destinations, to one lucky winner

“Hilton Head Island is the perfect location for the HGTV Dream Home 2020, as it has become known around the world for its dream-like sunsets, beaches and overall beauty” said Tamara Day, host of the HGTV Dream Home 2020 Special, airing on New Year’s Day. “The island offers year-round outdoor adventures, as well as exotic culinary experiences, and we are so thrilled to be able to share this truly special place with our fans.”

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The stunning, three-bedroom and three-and-a-half-bathroom property is located in Windmill Harbour, a private community near the Intracoastal Waterway. The trendy yet relaxed home certainly doesn’t shy away from color — the outside is painted a muted blue, while the inside is rendered in tropical greens, pinks and blues. 

Two open-concept floors are filled with bright and airy spaces designed for family living. Highlights include the two-story foyer leading into the massive great room, the master suite, a contemporary kitchen and a multi-purpose entertaining space upstairs. Outside, there’s plenty of room to run around the property, which features a pool, retractable screen porch and views of the coastline. 

The 2020 HGTV Dream Home winner will not only get the keys to this stunning estate, but also take home a brand-new 2020 Honda Passport Elite and $250,000 from Rocket Mortgage by Quicken Loans — a grand prize package worth over $2 million. 

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Ready to enter? You’ll have to wait until Monday, December 30, 2019 at 9am ET, when the sweepstakes period opens. Fans will then be able to enter the contest twice a day at The sweepstakes period will run through 5pm ET on Wednesday, February 19, 2020. The contest winner will be featured on the HGTV Dream Home Giveaway Special 2020, airing in May 2020. 

The first ever HGTV Dream Home was in Jackson Hole, Wyoming in 1997. Last year’s home was a mountain-chic property located in Whitefish Lake, Montana.

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