Balanced compared to what? Pretty much any magical item will make a character more powerful.

@Miniman Balanced as a starting weapon, compared to say... a wizard of the same level. I do have another player character who is a wizard and i want the play styles to be distinct without giving either one a distinct advantage. The campaign hasn't started yet and this is the only weapon I've been informed of beforehand. If it helps other characters are a human wizard, a half-elf arcane archer and a half-giant barbarian, and this player is a human bard. Hope that helps.

Sorry, as in, the instrument should be balanced against a wizard? Or are you saying that a bard with the instrument should be balanced against a wizard?

Just to clarify, does using any of the enchantments cost an action?

Also, does the Song of Healing heal 2 points per round that concentration is maintained? And does the Song of Damage create 4 waves every round that concentration is maintained?

None of these have a listed number of times they can be used. Was this item created by the Bard's player themselves?

Is this per level? Per every other level? Per Tier matched to Proficiency?

@Miniman the bard

@Icyfire yes they do

@Miniman the Song of Healing does. The Song of Damage does not have concenration (it's more of a ranged attacked)

@Erik Yeah it kinda was, that was one of the things i was struggling with comming up, if you have any recommendations I would much appreciate it

@KorvinStarmast Just per level.

I am still not quite sure what this is supposed to be balanced against. From your answers to Miniman, it seems like you are asking if a PC + this item = a different PC. Are the other PCs getting similar items to start with? If they are we would need to see them in order to see if they are balanced against each other, if they aren't I feel like the answer should be obvious...

As for your request for suggestions, that isn't something we tend to do well here. Generally, for those we recommend you visit a forum.

If you hop on in to Role-playing Games Chat, we are more than willing to help, as well. :) the back-and-forth of asking suggestions and getting feedback isnt handled well by the Q&A format of the site

Thank you all for helping with this question and apologies for not making myself clear in the initial question. This is my first time DM'ing a game and I'm still getting a hang of all the rules behind the scenes. Thank you for your patience and knowledge, you have all been most helpful.