HGTV's 2022 Dream Home Is Here! Find Out Where the 'Luxury Cabin' Is Located — and How to Win!

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HGTV's 2022 Dream Home is officially here — and it's a four-season paradise for anyone who loves the outdoors (and great design!).

Today, PEOPLE can exclusively reveal that this year's Dream Home, the network's 26th, is located in Warren, Vermont, a mountain town in the Mad River Valley famous for its fantastic skiing conditions and year-round outdoor activities. The home itself is a two-story, modern mountain cabin with three bedrooms and three-and-a-half bathrooms spread across 3,090 square feet.

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.

The Warren home is the sixth Dream Home for which HGTV favorite Brian Patrick Flynn has been the interior designer, joined by designer Dylan Eastman and local builder Big Country Built. Working to make the home feel warm and cozy while also modern and elegant, Flynn says designing this property was very special for him, as it feels like something he would love to live in himself.

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"I live in a black cabin up in the mountains of Georgia, and people have commented for years how it's become their own dream to have a mashup of rustic and elegant lifestyles together, and this house embodies both," the designer tells PEOPLE.

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"[Designing] it was like living out my own Scandinavian cabin dreams!" he continues. "The house sits up high in the Vermont mountains, and the overall architecture is best described as a luxury cabin with sweeping mountain views and tons of amazing outdoor living space. It's overall understated and livable with modern touches."

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Highlights of the home included a massive kitchen with state-of-art appliances and a full dining area on the first floor, as well as a living room complete with a two-sided fireplace that leads into the all-season sunroom.

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The second floor is where the main suite is located, as well as a guest suite with a kitchenette and full bathroom for friends and family who come to visit. A loft space on the second-floor landing is Flynn's "hands down" favorite part of the home, he says, complete with a private balcony and Murphy bed for extra guests.

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In addition to using a nature-inspired color palette, Flynn packed the home with subtle nods to the outdoorsy Vermont lifestyle, with features like a wood stove, snowshoes above the bed in the main suite, a space for storing outdoor gear in the front entryway (a ski bunny's dream) and antler decor in several of the rooms.

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It also boasts a pool with a view in the backyard — which also features an outdoor kitchen, firepit and hot tub — a feature Flynn says is rare to find in Vermont.

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The winner of the home will have plenty of space to entertain or simply relax and enjoy the views of the surrounding nature, Flynn says.

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"It's so tucked up in a dreamy, sleepy town with endless outdoor activities just steps from the front door," Flynn says of the property, which is a short drive away from the popular Sugarbush Resort ski village. "From its architecture and unique and understated palette to the stunning foliage, it may be the dreamiest of all HGTV Dream Homes we've ever done."

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The 2022 HGTV Dream Home winner will not only get the keys to the fully-furnished home, but also take home $250,000 from Rocket Mortgage — a grand prize package worth over $2.4 million.

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Ready to call the cabin your own? You'll have to wait until Tuesday, December 28, 2021 at 9:00 a.m. ET, when the sweepstakes period opens. Fans will then be able to enter the contest twice a day at HGTV.com/HGTVDreamHome. The sweepstakes period will run through 5pm ET on Thursday, February 17, 2022.

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For more information and an in-depth look at the property, be sure to catch the one-hour HGTV Dream Home 2022 special, airing Saturday, January 1 at 8 pm ET on HGTV.

The first-ever HGTV Dream Home was in Jackson Hole, Wyoming in 1997. Last year's home — for the 25th anniversary of the Dream Home — was a hillside, nautical-inspired estate in Newport, Rhode Island.