BOHGUN RENOVATIONS Merriam-Webster defines it as “a flat roof or open platform,” which means that lots of things could qualify as a terrace, including a rooftop deck, an open space directly above another apartment (as in buildings with stepped-back architecture that gets narrower as it gets taller), or even a ground-level courtyard. A terrace is a raised, flat, open space that can be either attached to a building or free-standing. ... A balcony, on the other hand, is a smaller, elevated platform that's attached to a specific room of a house or building, only accessible through the room that it's attached to.