Honeypots have been implemented in network security for years now, from the simplesystems where they could only mimic one vulnerable service and gather information aboutan intruder they have morphed in to advanced and complicated environments.Unfortunately, hackers have not left that untouched, and constantly try to detect honeypotsbefore being caught. This ongoing battle can be damaging to unexperienced internet users,who have no idea about securing devices in their small home-based network environment.The purpose of this research is to perform a technical study using IoT devices placed in a homeenvironment in a specially separated segment, and capture traffic between them and externalagents. This data is then analysed and used to build risk profiles of tested IoT devices aimingto provide security recommendations.The results indicate creating risk profiles for IoT devices could be used to gather more preciseinformation about external attacks and provide instant answer to what type of attacks couldbe generated against a selected IoT device. More development would be required to improvethis process, this includes redesign of the network and an automatic software-based toolcapable of generating risk profiles.