The growth of the Internet of Things (IoT), and demand for low-cost, easy-to-deploy devices, has led to the production of swathes of insecure Internet-connected devices. Many can be exploited and leveraged to perform large-scale attacks on the Internet, such as those seen by the Mirai botnet. This paper presents a cross-sectional study of how users value and perceive security and privacy in smart devices found within the IoT. It analyzes user requirements from IoT devices, and the importance placed upon security and privacy. An experimental setup was used to assess user ability to detect threats, in the context of technical knowledge and experience. It clearly demonstrated that without any clear signs when an IoT device was infected, it was very difficult for consumers to detect and be situationally aware of threats exploiting home networks. It also demonstrated that without adequate presentation of data to users, there is no clear correlation between level of technical knowledge and ability to detect infected devices.