The couple made the announcement on their blog on Tuesday, where they wrote that the decision to wrap the series was theirs alone. They explained that they ultimately decided to pull the plug because they wanted to devote more time to their kids and to their many businesses, from their hometown base of Waco, Texas. In a video message, the couple called "Fixer Upper" "the opportunity of a lifetime," and said they were "honored" that so many viewers had "invited us into your living rooms."
"Thank you from the bottom of our hearts for letting our family become a part of your family," Chip said in the video. "The experience has been like nothing we could have ever predicted, never would have imagined in a million years."
The Gaineses -- along with their four kids -- shot to fame thanks to the popularity of the HGTV series, which features the couple renovating houses for other growing families. According to People, "Fixer Upper" was an immediate success when it debuted in May 2013, and is the highest-rated show in HGTV's history.
Despite that success, the couple explained on their blog that this was the best time to walk away.
"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," they wrote. "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."
The couple added that season five was "the perfect finale to this amazing journey we've been on." It's set to debut on HGTV sometime in November.