Main Difference
The main difference between Balcony and Patio is that the Balcony is a platform projecting from the wall of a building and Patio is a an outdoor space generally used for dining or recreation
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Balcony
A balcony (from Italian: balcone, scaffold; cf. Old High German balcho, beam, balk; probably cognate with Persian term بالكانه bālkāneh or its older variant پالكانه pālkāneh;) is a platform projecting from the wall of a building, supported by columns or console brackets, and enclosed with a balustrade, usually above the ground floor.
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Patio
A patio (, from Spanish: patio [ˈpatjo]; “courtyard”, “forecourt”, “yard”) is an outdoor space generally used for dining or recreation that adjoins a residence and is typically paved. In Australia the term is expanded to include roofed structures similar to a pergola, which provides protection from sun and rain.
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Balcony (noun)
An structure building, especially outside a window.
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Balcony (noun)
An accessible structure stage or the like.
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Patio (noun)
A dining or recreation.
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Patio (noun)
An inner courtyard typical of traditional houses in some regions of Spain.