Balconies tend to have relatively limited amounts of space, making it important to prioritize the functions you want your balcony to serve and decorate accordingly. Decide what you want from your balcony space and what items you need to put on the balcony in order to maximize your pleasure in the space and meet your purpose. For example, if you want your balcony to be a relaxing place to sit and drink your coffee in the mornings, you will need a chair and a table. If you want your balcony to be the new location for your pingpong table, you'll want to avoid putting any other items you want outside too close to it in order to avoid spending your time being periodically hit with pingpong balls.
Balconies can be great places for plants, bird feeders, outdoor seating, tables, barbecue grills etc. However, if you try to put all of those things on your balcony, you will quickly crowd yourself right out of the space. Select pieces of furniture that can serve multiple functions and try to limit the physical size of the items so that you will have enough floor space to move around comfortably.
If your balcony overlooks the ocean or a beautiful mountain range, you probably do not have to worry about annoying eyesores in your view. If your balcony overlooks a parking lot, a busy street or your neighbor's hot tub, there is a good chance that you would like to add some privacy to your space. Strategically placing large plants in between you and the offending eyesore will work for blocking the view. You can also experiment with hanging sheer curtains or putting up a large, decorative screen or partition. To block noise, add a radio or stereo system to your balcony area.
It can be very tempting to put out a bird feeder on your balcony, but remember that you may also attract larger animals such as squirrels, raccoons or even, if you live in a coastal region, seagulls. Being visited by nature can be pleasant, but animal feces or destruction caused by animals trying to access more food or fighting over the available food can quickly turn unpleasant. Make sure you consider both the positive and the negative outcomes before intentionally luring wild animals into your space.
If you live in an apartment building you may need to check your rental agreement or homeowners association rules before decorating your balcony. Some buildings prohibit using the space for certain types of activities, including barbecue grills and bird feeders, as well as limit your decorating options.