In the video, the duo -- who musically go by the name, The Scott Brothers -- look cool and casual as they sweetly sing the heartwarming lyrics from the inside of a homestead barn in Nashville, Tennessee.
Ahead of the release, ET chatted with Drew and Jonathan, where they opened up about the making of the video, what inspired the song and why they decided to dip their toes into the world of country music.
"We grew up on a ranch, spending almost every other day sitting around a camp fire, strumming songs on the guitar, singing songs with our parents," Drew reflects on his and Jonathan's childhood in Maple Ridge, Canada. "This past year, we were shooting Property Brothers: At Home on The Ranch, where we went back to our roots to renovate a friend's property in the Rockies. While we were doing this, we were talking with a producer and singer-songwriter from Nashville, and we said, 'You know, while we're doing this show, we should write a song and pay tribute to how we grew up.'"
That singer-songwriter happened to be Victoria Shaw, who has worked with artists like Garth Brooks and Lady Antebellum. They also teamed up with songwriter Chad Carlson, who helped bring their vision for the song and music video to life.
See photos of the Property Brothers:
The Property Brothers -- Jonathan Scott, Drew Scott through the years
EXCLUSIVE: See 'Property Brothers' Drew and Jonathan Scott in first-ever music video
RIDGEWOOD, NJ - APRIL 17: Jonathan Scott and Drew Scott of the show 'The Property Brothers' attend the Jonathan & Drew Scott Sign Copies Of 'Dream Home' at Bookends Bookstore on April 17, 2016 in Ridgewood, New Jersey. (Photo by Bobby Bank/Getty Images)
IMAGE DISTRIBUTED FOR BASK IT STYLE - Jonathan Scott and Drew Scott attend the Bask It Style media day on Wednesday Sept. 5, 2012, in Toronto, Canada. (Photo by Todd Williamson/Invision for Bask-It-Style/AP Images)
LAS VEGAS, NV - MAY 19: HGTV hosts Jonathan Scott and Drew Scott attend the Billboard Music Awards Pre-Party hosted by Kelly Clarkson at MGM Grand on May 19, 2012 in Las Vegas, Nevada. (Photo by Marcel Thomas/FilmMagic)
LAS VEGAS, NV - MAY 20: TV hosts Jonathan Scott and Drew Scott attend the 2012 Billboard Music Awards Oficial After-party at 1 Oak on May 20, 2012 in Las Vegas, Nevada. (Photo by Marcel Thomas/FilmMagic)
NASHVILLE, TN - JUNE 09: Drew Scott and Jonathan Scott attend the GAC, HGTV and DIY Network's the Lodge at CMA Music Fest at the Fan Alley - Downtown on June 9, 2012 in Nashville, Tennessee. (Photo by Sara Kauss/WireImage)
TODAY -- Pictured: (l-r) Jonathan Scott and Drew Scott appear on NBC News' 'Today' show -- (Photo by: Peter Kramer/NBC/NBC NewsWire via Getty Images)
LAS VEGAS, NV - JUNE 16: Television personalities Jonathan Scott (L) and Drew Scott arrive at the 2013 Miss USA pageant at Planet Hollywood Resort & Casino on June 16, 2013 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images)
LAS VEGAS, NV - DECEMBER 10: Presenters Jonathan Scott and Drew Scott speak onstage during the American Country Awards 2013 at the Mandalay Bay Events Center on December 10, 2013 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images)
LOS ANGELES, CA - APRIL 30: Jonathan Scott and Drew Scott attend the REVOLT & NCTA Host VIP Gala For Talent & Cable Execs at Belasco Theatre on April 30, 2014 in Los Angeles, California. (Photo by Araya Diaz/WireImage)
LIVINGSTON, NJ - JULY 12: Cost Plus World Market and Jonathan & Drew Scott, hosts of Property Brothers, Celebrate the Grand Opening of its New Livingston, NJ Store on July 12, 2014 in Livingston, New Jersey. (Photo by Dave Kotinsky/Getty Images for Cost Plus World Market)
Real estate experts Drew, left, and Jonathan Scott, right, and Sunrun, the nation's largest dedicated residential solar company, show homeowners how to take advantage of the 'smart home' trend with energy saving and efficiency tips for creating a sleeker, smarter home, on Monday, August 18, 2014 in Modesto, Calif. (Photo by Alison Yin/Invision for Sunrun/AP Images)
LOS ANGELES, CA - AUGUST 25: TV personalities Drew Scott (L) and Jonathan Silver Scott attend the 66th Annual Primetime Emmy Awards held at Nokia Theatre L.A. Live on August 25, 2014 in Los Angeles, California. (Photo by Jeff Vespa/WireImage)
SANTA MONICA, CA - JANUARY 10: TV personalities Jonathan Scott (L) and Drew Scott arrive with their dogs Gracie and Stewie at The World Dog Awards at Barker Hangar on January 10, 2015 in Santa Monica, California. (Photo by Chelsea Lauren/WireImage)
LOS ANGELES, CA - MARCH 29: TV personalities Drew Scott (L) and Jonathan Silver Scott attend the 2015 iHeartRadio Music Awards which broadcasted live on NBC from The Shrine Auditorium on March 29, 2015 in Los Angeles, California. (Photo by Frazer Harrison/Getty Images for iHeartMedia)
LAS VEGAS, NV - JULY 12: Television personalities Drew Scott (L) and Jonathan Scott arrive at the second annual Coach Woodson Las Vegas Invitational pairings party at the Lavo Restaurant & Nightclub at The Palazzo Las Vegas on July 12, 2015 in Las Vegas, Nevada. (Photo by Steven Lawton/FilmMagic)
Drew Scott, left, and Jonathan Scott attend the Governors Ball for the Television Academy's Creative Arts Emmy Awards at LA Convention Center on Saturday, Sept. 12, 2015, in Los Angeles. (Photo by Colin Young-Wolff/Invision for the Television Academy/AP Images)
Drew Scott, left and Jonathan Scott arrive at the 67th Primetime Emmy Awards on Sunday, Sept. 20, 2015, at the Microsoft Theater in Los Angeles. (Photo by Al Powers/Invision for the Television Academy/AP Images)
FRAMINGHAM, MA - OCTOBER 04: Cost Plus World Market and Jonathan & Drew Scott, hosts of Property Brothers, Celebrate the Grand Opening of its Framingham, MA Store on October 4, 2015 in Framingham, Massachusetts. (Photo by Paul Marotta/Getty Images for Cost Plus World Market)
NEW YORK, NY - DECEMBER 02: HGTV's 'Property Brothers' Jonathan Scott and Drew Scott pose backstage at the hit musical 'Something Rotten' on Broadway at The St. James Theater on December 2, 2015 in New York City. (Photo by Bruce Glikas/FilmMagic)
NASHVILLE, TN - MARCH 28: Television Personalities Jonathan Scott and Drew Scott of The Scott Brothers attend and greet fans during their book promotion and fan meet and greet at Goo Goo Shop on March 28, 2016 in Nashville, Tennessee. (Photo by Jason Davis/Getty Images)
TORONTO, ONTARIO - APRIL 15: Jonathan Scott and Drew Scott of the 'Property Brothers' attend the launch of their new book 'Dream Home' at Indigo Manulife Centre on April 15, 2016 in Toronto, Canada. (Photo by GP Images/WireImage)
"We're always on the road [filming for our show] and always away from home," Drew and Jonathan explain. "It really makes a difference when you're getting to spend that time with family. For us, it was most recently for Christmas. When you get to spend that time with family, it means so much more. So that's what we wanted the song to be about. When we were writing it, it just sort of rolled off the tongue, and we were already envisioning what the music video would look like."
While the brothers have a good amount of camera time in the video, the main focus is on the importance of family, as seen by the big smiles on the faces of a mother and her children welcoming their beloved soldier home from the military.
"I think the story really does resonate with a lot of different people," Drew explains. "We wanted to give something that any family, or any person that travels, can relate to."
The guys tell ET that the music video took about two and a half days to film, starting at about 3 a.m. to catch the sunrise for the scenic shots.
"We got these beautiful shots in the homestead of a barn that was overlooking the ranch house, but in order to get the perfect timing, we had to make sure that not only were we there for sun up, but we also had to be there for sun down," Jonathan shares. "That was the biggest challenge while filming."
In addition to "Hold On," the duo has already released a second track titled "Let the Night Shine In."
"We locked ourselves in a New York City apartment for two days and wrote both songs," Jonathan explains. "Two weeks later we were down in Nashville recording them. It was pretty impressive."
So can fans expect a full album soon? According to the brothers, all signs point to yes!
"We actually already shot that music video, too," they spill. "That one we'll be releasing very soon, in about a month. We're efficiency experts!"
"The thing is, with our schedule, we shoot a lot of shows, we have a furniture line and we're releasing our first book [Dream Home: The Property Brothers' Ultimate Guide to Finding and Fixing Your Perfect House], so we don't sleep," Drew continues, laughing. "I think we've decided we're going to see how our fans like our music -- it seems like they're loving it so far -- and if they continue to like it, we'll do more songs and when we get a little more time in our schedule, maybe we'll look at touring."
While no full tour is scheduled just yet, they do have plans for a few pop-up performances, and encourage their fans to keep an eye on their social media accounts (@MrSilverScottand and @MrDrewScott on Twitter and Instagram) for updates on those shows.
In the meantime, press play on the video below to see exclusive behind-the-scenes footage from the set of their music video.