Chip Gaines Speaks out About 'Fixer Upper' Ending

Chip and Joanna Gaines revealed on Tuesday that their HGTV show, Fixer Upper, would be ending after its upcoming fifth season, and fans immediately expressed their dismay over the loss of the hit renovation show.

In an interview with PEOPLE, Chip also expressed his feelings on the decision to end the show, noting that he and wife Joanna are going through a mix of emotions.

"It's a bittersweet feeling," he said. "We've shed tears — and I mean ugly tears — and then we've laughed. All of a sudden the tears dry up and we get a little giddy."

Since launching in 2013, Fixer Upper has catapulted the Gaines' to home improvement super-stardom. The couple now boasts furniture, paint, wallpaper and rug lines, a magazine, a retail compound and upcoming restaurant in Waco, Texas and more.

"We want to go out as best as we possibly can," Chip explained. "I really feel like we're rounding the corner and running to the finish line."

"We're excited about the future," he added. "I hope that every new season and situation of life changes me."

The couple, who shares children Drake, 12, Ella, 10, Duke, 9, and Emmie Kay, 7, wrote on their blog that while they are looking forward to taking a bit of a breather, they also have plenty of upcoming projects to keep them busy.

"It is with both sadness and expectation that we share the news that season 5 of Fixer Upper will be our last," they wrote. "While we are confident that this is the right choice for us, it has for sure not been an easy one to come to terms with. Our family has grown up alongside yours, and we have felt you rooting us on from the other side of the screen. How bittersweet to say goodbye to the very thing that introduced us all in the first place."

Photo Credit: HGTV