Terrace
Definition and meaning of Terrace in real estate.
A terrace is an outdoor paved or raised platform next to a building, a roofed balcony, or a flat level constructed on a sloped landscape to control erosion and facilitate gardening. In urban real estate, the term also refers to a row of joined houses or a street lined with such homes.
In more detail
This architectural feature serves different functions depending on the property type and location. For single-family homes, a terrace provides an elevated space for dining, entertaining, or enjoying views, often acting as a transition between the indoor living space and the yard. In landscaping, terracing involves creating stepped retaining walls to turn steep hillsides into flat, usable outdoor space.
In high-density cities, apartments with private terraces command a premium because they offer rare personal outdoor space. Home buyers should inspect the drainage and structural support of any elevated terrace to ensure there is no water leakage into the building below.
Key facts
| Category | Property Types & Construction |
|---|---|
| Also known as | Patio, veranda, or landscaped balcony |
| Watch out for | Water pooling and drainage issues near the foundation |
| Value impact | Typically increases property value and appeal in urban areas |
An apartment buyer pays a premium for a penthouse unit that includes a spacious brick-paved terrace overlooking the city skyline.
Frequently asked questions
What is the difference between a balcony and a terrace?
A balcony is a small platform projecting from the wall of a building, whereas a terrace is larger, sits on a flat roof or the ground, and is open to the sky.
Does a terrace require regular maintenance?
Yes, outdoor terraces require sealing, power washing, and drainage checks to prevent water from seeping into structural elements or the building foundation.