The terrace is served from a Latin word 'terra,' which means earth, while the balcony is gotten from another Latin word 'balcone,' which has a similar meaning to a large window. Terraces can be located at the top of construction or probably built to stand on its own, while balconies are usually attached to the side of the building. A balcony can be used as a relaxing center or a small gardening point. If space is large enough, it can give a chance for the house owner to sit and interact with the outdoor activities.
However, terraces can also serve the purpose of a balcony, and even more. Terraces can be used as a mini-event center or restaurant and even more. This happens because the size of a terrace is surely bigger than that of a balcony, and the size determines what extent the usage can be. A balcony is usually accessible through a door from a room, and by just the resident of that particular room. On the other hand, a terrace can be accessed through a staircase or via many doors. Also, it is not always restricted for outsiders to access.
If you really don't know what terrace or balcony means, you might end up having a problem in differentiating the two structures. Both terrace and balcony can be built together with a building for the desired purpose. Although, the two structures look similar, but there are some differences between them. Terrace is simply a structure that extends outwards from a building. And it is attached to a building because of many reasons.
Terraces are built with buildings so that there can be a place outside the main building to relax, rest, have fun with friends and family. Terraces are not always attached to buildings; you can have them standing alone within a compound. Balcony, on the other hand, is an extension of a building, which is usually attached to the side of a building. The extension might be from a kitchen or other parts of the building. As an owner of a building, you can stand at the balcony and be having a view of a section of the building, you can also rest at the balcony. Terraces are most times constructed bigger than balconies.