Surfing the web today I came across a post at Annoyingly Cheerful, which proposes the following all purpose rules to turn any show on HGTV in to a drinkfest:

• every time a designer trots out a piece of IKEA furniture, take a drink.
• every time someone says “travertine”, take a drink.
• every time someone says “this will make the room POP”, take a drink.
• every time they use the phrase “window treatment”, take a drink.
• ditto for “dated”.
• every time the homeowner tries desperately to pretend that they LOVE the newly decorated room, but you can tell they really hate it, take a drink.

There are plenty of good all-purposes words or phrases that could be added to this list.  Over at Fans of Reality TV, Cach suggests the catch phrase "Nice." Speaking about Househunters, he explains "This show is about people looking at homes with a real estate agent, and it seems that every other word is "nice." "This is a nice home, and the location is very nice. Ooh, that floor is nice! Yes, it sure is nice, etc., etc." If you actually had a drink every time you heard the word "nice," you'd be passed out long before the show was over!" Likewise, Annika suggests 'focal point' would make a good watch word. 

The mainstream press isn't immune to this speculation, either.  Upon the premiere of Small Space, Big Style Entertainment Weekly suggested not just focusing on phrases by on key events: "When anyone puts up a mirror, dashes to IKEA, or has a novel lighting concept, take a swig."   Even the Chicago Tribune has weighed in, suggesting the word 'space'. I'm pretty sure that one would put most folks under the table.

Surprisingly there aren't as many lists as you'd expect when you search the web for specific shows. Aside from several versions of the Trading Spaces Drinking Game (found via Jarrett House North) and one for Extreme Makeover-Home Edition ("drink whenever Ty acts like an idiot"), there really aren't that many out there.

That said, if you're really just looking to toss a few back you'd probably be best off finding an old rerun on cable and just playing the one that started them all...the This Old House Drinking Game.

Cheers!