With the advancement in Internet of things smart homes are rapidly developing. Smart home is the major key component of Internet of thing. With the help of IOT technology we can stay connected to our home appliance. Internet of Things is the Associations of inserted advancements that. Contained physical protests and is utilized to convey and keenness or collaborate with the internal states or the outer surroundings. Rather than individuals to individuals’ correspondence, IoT accentuation on machine-to-machine correspondence. Smart home connects the physical components of our home with the help of software and sensors so that we can access them via internet from one place. Building home automation includes computerizing a home, likewise, mentioned to as a sensible home or smart home. Domestic machines are an urgent part of the Web of Things whenever they are associated with the web. Controlled devices are commonly connected to a focal center or entryway through a domestic automation framework. A smartphone application, tablet PC, personal computer, wall-mounted terminals, or even a web interface that can be gotten to from off-website over the Web are completely utilized by the program to work the framework. Since all the devices are interconnected and interlinked to one an-another they are lot of chances for security breach and data theft. If the security layer is easily breakable any third-party attacker can easily theft the private data of the user. Which leads us to pay more attention to protecting and securing private data. With the day-to-day development of Smart Home, the safety also got to be developed and updated day to day the safety challenges of the IoT for a wise home scenario are encountered, and a comprehensive IoT security management for smart homes has been proposed. This paper acquaints the status of IoT development, and furthermore contains security issues challenges. Finally, this paper surveys the Gamble factor, security issues and challenges in every point of view