Outdoor entertainment deck.

The HGTV Dream Home 2012 contest is finally underway and one lucky winner will get the prize of a lifetime - a modern, western ranch in Park City, Utah. The picturesque location is ideal for nature lovers and adventure seekers alike.

The 4,000-square foot home features features five covered decks with connecting boardwalks, an outdoor living room and hot tub, and a changing room with fishing accessories. The house includes three bedrooms, four and a half bathrooms, a dedicated entertainment room and a gourmet chef's kitchen.

Situated along the banks of the Provo River, the house also boasts stunning panoramic views of the surrounding mountains and meadows. The home was designed to compliment the natural landscape. A natural color scheme, rock walls, wood flooring and large windows make for a stunning abode.

This is the 16th HGTV Dream Home contest. The grand prize package includes not only the house but also a brand new 2012 GMC Terrain, $500,000 in cash and all furnishings.

Hopefuls can enter the giveaway twice daily - once on and once on Click here to enter on Click here to enter on Voting is open until Feb 17 at 5:00 pm EST.

After the Tournament of Roses Parade airs on the HGTV channel, the HGTV 2012 Dream Home special will air an in-depth tour of the Utah home. The air times for the rest of the month are as follows: January 02, 2012 at 1:00 PM e/p; 11:00 PM e/p; and 2:00 am e/p; January 3 at 1 pm e/p; January 8 at 1 pm e/p, and 7 pm e/p; January 14 at 6 pm e/p; January 16 at 9 am e/p; January 27 at 5 pm e/p; January 31 at 2 pm e/p, and finally on February 11, 2012 at 5 pm e/p.

The winner will be announced in March 2012.

Visit the HGTV Web site to find out more details, view photos and take the virtual tours.