As we get older our balance can deteriorate and falling and tripping can become more and more common, which is something (I presume) that you don't want. There may be reasons why your balance isn't that great, and I may talk about them in another post but this article is specifically about the benefits of good balance.
1. Less Falling
To me, the most obvious benefit of having good balance is that you are going to be less likely to fall over. When we're younger, falling over isn't too much of a big deal - yes it can hurt and we look silly but unless it is a serious fall it is not going to be too much for us to recover from. You see kids fall often, and most will just pick themselves back up and continue with what they were doing. At that age your body is much more flexible, but as you become older your bones become more brittle and falling over can become a much more serious thing. Having good balance to help reduce the risk of injury has got to be a good thing right?
2. Advantage at Sports
Another benefit of balance is to do with sport. With sports such as tennis, football, rugby, badminton, gymnastics, or really any sport that gets you moving around a lot, having good balance is definitely essential. Sports that get you moving your body into different positions and having agility will mean that your centre of gravity shifts, meaning that you are going to have to be able to deal with these dynamic movements. If you are not great with balance then you are going to be at a disadvantage compared to those who have good at balance.
Imagine, for example, being bad at balance in a sport like gymnastics. It is certainly going to put you at a disadvantage. When you look at how good gymnasts technique and posture has to be to be able to properly pull off some of those moves, having the balance to be able to keep it up and land those moves definitely needs to be good. If in a sport such as this, you don't have the balance to properly execute those moves and forms, I can imagine, you won't be in the same league as those who do.
3. Greater Coordination
A third benefit of balance is better coordination. This benefit ties in with benefit #1 and is something that comes naturally with good balance - better coordination. If you have better coordination then you are, unless you are clumsy, going to be less likely to trip and fall. You'll have better bodily control in areas where coordination is beneficial, say for example in places like building-sites and other places with many tripping hazards and other obstacles.
4. Improves Some diseases
Some studies have shown that having good balance and doing regular balance training can improve neuromuscular diseases, and those with motor deficits in the elderly and with children. This isn't to say that it can almost get rid of these diseases and conditions, but good balance can make an improvement to these diseases.
Conclusion
I'm sure that there are more benefits to good balance which I haven't mentioned. The article I wrote just before this one you may find interesting if you haven't viewed it and are wanting to improve your balance: How to Improve Balance.
The benefit that I personally would want to gain from this would be to invest for the future, so that when I'm old I will be less likely to fall into injury.