Thank you for your reply. I understand that code for handrail guard height on a second floor is minimum of 36 inches high but can be 38 to 42 inches when a balcony overlooks a first floor below. Your profession recommendation of proper handrail height is appreciated for a 2nd floor that has a balcony walkway all around and overlooks the 1st floor. Safety and appropriate aesthetics are important. (Balusters and handrail are wood). Thank you for your additional thoughts .

Leave original unless you want a 50K project. Original is grandfathered.

Usually in a single-family residence in the US, a "handrail" is required along flights of stairs with a minimum and maximum height of 34" and 38" above the tread nosings.

A "guard" is required at open-sided walking surfaces (including stairs), more than 30" above the surface below with a minimum height of 36" and no maximum height, however, the handrail at the stair is allowed to act as a guard.

In buildings open to the public, the minimum height of a guard is 42" with a separate handrail.

What are the existing guard and handrail heights, how steep are the stairs and are there any intermediate landings?

It would help to see a photo.

We need pics and a more info. You really can't mess with railings without major rework of the staircase so more info.

Railings are replaced all the time without "major rework of the staircase". I agree though, a picture or 3 would help.

Based upon the information provided and assumptions, close off the two story space above the main entry and pick up additional usable second floor space, save on heating costs, make the second floor spaces quieter, and use any stair railing that is appropriate that meets or exceeds code..

Thanks all for your comments, your time and insights are appreciated.
Existing guardrail was set at approximately 36”, there are no intermediate landings. We are planning to have our new balusters installed with the handrail higher than it was originally set on the second floor balcony. We were advised that we could go 38” and as high as 42” upstairs based on personal preferences and comfort.
Any further thoughts on appropriate height on 2nd floor balcony are welcome.

Interesting comments re closing off the second floor, perhaps a future buyer would entertain. We enjoy the openness of the 2 story entry at this time. Thank you again

Without seeing the newel posts and other details I'd take the advice from the person on site, assuming you are referring to the installer.

38" or 42" are arbitrary heights. It's not wise to design by rule of thumb or other people's personal preferences with little or no existing condition information.

What's wrong wth 36"? Is anyone in your family taller than 6-4? Do you suffer from vertigo?