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Chip and Joanna Gaines are hitting a milestone in their 20-year marriage. 

The Magnolia Network entrepreneurs reminisced on how their relationship has transformed over the years, as they reflect on the highs and lows of their union. 

"I would say, as we're getting older, I'm shifting and I'm more like Chip, and Chip is more like me," Joanna said during an interview for People’s cover story.

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Chip and Joanna Gaines

Chip and Joanna Gaines have been married since 2003. (Getty Images)

"Jo and I are in this beautiful moment. We're evolving into each other," Chip added. "It's the second part of our marriage."

While the power couple celebrates two decades of marriage, Chip, 49, and Joanna, 45, admit they "see life differently now."

Chip and Joanna have had their hands tied for years as they gear up for new projects, including launching a podcast network, upcoming Magnolia reality shows, building Hotel 1928 in Waco, and debuting their new limited series, "Fixer Upper: The Hotel."

A photo of Chip and Joanna Gaines

Chip and Joanna have been working on their new limited series, "Fixer Upper: The Hotel." (Magnolia Network)

The pair first found fame flipping houses as the "Fixer Uppers" on HGTV, but momentarily pivoted away from the cameras in 2018.

Outside their major home projects, they’ve built a loving foundation for themselves as they are parents to five children. 

Joanna and Chip Gaines renovating

Chip and Joanna Gaines check on the progress of the hotel, as seen on "Fixer Upper: The Hotel." (Magnolia Network)

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Like many parents, Chip and Joanna admitted they’re adjusting to sending their oldest son, Drake, 18, off to college.

"It’s this tension of joy and pain, all in one breath," Joanna reflected on her son’s departure. "Even now, when I’m setting the table, I have to consciously go, ‘Oh, there’s only six here.’"

Chip and Joanna share four other children – Ella, 17, Duke, 15, Emmie, 13 and Crew, 5. 

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Chip and Joanna Gaines hugging

Chip and Joanna Gaines are hitting a milestone in their 20-year marriage. (Nathan Congleton/NBC/NBCU Photo Bank via Getty Images)

The two continued to discuss how their lives have changed over 20 years and what they’re looking forward to in their next chapter. 

"If Chip weren’t my partner, I would probably still be in the corner. From the moment I met him, he’s always experienced change in a positive way. Even if it was negative, it was, ‘All right. What do we do next?’" Joanna said. 

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Chip and Joanna Gaines on the Today show

Joanna and Chip met in 2001 at her father's auto shop. (Nathan Congleton/Getty Images)

"We’ve had so much change in our lives, and the proof is there: Change is hard, but it’s always beautiful," she added. 

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Chip hopes that this is "just the beginning" of their journey together. "I hope that we get to look back in 20 years from now, and feel just as confident that we were meant to be," he said. "We really feel like we are in some ways just getting started."