Terrace meaning

Hi,
I'm a first time homebuyer and have been looking to buy a 2 bedroom condo or house in Park Slope or Windsor Terrace. I'll be living there for a few years and will most likely rent it out or sell it after that. It seems that in terms of affordability in the Slope, South Slope is still reasonable since it's not as established yet, and there's room for growth.

I know real estate agents are always saying "location, location, location" and "good schools!". Windsor Terrace is meanwhile closer to the park and even though the school district is the same as South Slope's, the particular apts I'm looking at in WT have better zoned schools for them.