Chip and Joanna Gaines Take on a Whole New Home in First Trailer for “Fixer Upper: The Lakehouse” (Exclusive)

The 'Fixer Upper' stars' latest show (arriving June 2) follows "The Castle" and "The Hotel" in a string of limited series from the HGTV alums

Chip and Joanna Gaines have a new home in the works!

In the PEOPLE exclusive first look above, the design duo celebrates 10 years of Fixer Upper with a brand new challenge: a total overhaul of an outdated 1960s lakefront home for their upcoming showFixer Upper: The Lakehouse.

The new 6-episode limited series premieres June 2 at 8/7C on Magnolia Network and HGTV, and will be streaming on Max and Discovery+ the same day.

Related: Chip & Joanna Gaines on ‘Beautiful Moment’ of Change After 20 Years: 'Second Part of Our Marriage’ (Exclusive)

“I think with this lakehouse, there’s something about it that just feels significant that this project landed on our 10-year Fixer Upper anniversary,” Joanna, 46, tells Chip in the trailer.

Chip, 49, adds that it “feels like it was really meant to be.”

The couple's original series, Fixer Upper, debuted in May 2013 on HGTV and aired for five seasons before they announced in 2017 that it would be ending. After launching their own network, the Gaineses rebooted the show, first with Fixer Upper: Welcome Home, which followed a similar format to the original and later with Fixer Upper: The Castle, and Fixer Upper: The Hotel.

Joanna says of their latest project in the trailer, “I love this house. I love this view. Boom — you walk in, and it’s like, showstopper!”

In classic Chip and Jo fashion, Joanna goes on to share her grand design ideas and Chip delights in demo before jokingly lamenting his wife's "change orders" after things are underway.

“You’ve got your work cut out for you,” Joanna warns of home, which features stunning lakefront views and a swimming pool in need of a lot of love.

Before the trailer ends, Chip can be heard excitedly talking about “the million-dollar view” as he and Joanna monitor the progress of their hard work.

Related: It's Official! Chip and Joanna Gaines Will End 'Fixer Upper' After 5th Season

The series will “follow the full transformation of the property throughout the season as Chip and Joanna go above and beyond with surprising interior designs and unique outdoor installations never before seen on Fixer Upper," according to a press release from Magnolia Network.

“When Fixer Upper premiered ten years ago, we couldn’t have imagined the journey we had ahead of us,” the Gaineses said earlier this year.

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“Though a lot has changed and evolved in the decade between then and now, our love for home is still at the heart of everything we do,” they continued. “We feel honored that we get to continue pouring into the stories of these homes across Waco.”

Fixer Upper: The Lakehouse premieres June 2 at 8/7c on Magnolia Network and HGTV, and will be available to stream on Max and Discovery+. Two new episodes will air each week.

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