Safe water is becoming a scarce resource, due to the combined effects of increased population, pollution, and climate changes. Water quality monitoring is thus paramount, especially for domestic water. Traditionally used laboratory-based testing approaches are manual, costly, time consuming, and lack real-time feedback. Recently developed systems utilizing wireless sensor network (WSN) technology have reported weaknesses in energy management, data security, and communication coverage. Due to the recent advances in Internet-of-Things (IoT) that can be applied in the development of more efficient, secure, and cheaper systems with real-time capabilities, we present here a survey aimed at summarizing the current state of the art regarding IoT based smart water quality monitoring systems (IoT-WQMS) especially dedicated for domestic applications. In brief, this study probes into common water-quality monitoring (WQM) parameters, their safe-limits for drinking water, related smart sensors, critical review, and ratification of contemporary IoT-WQMS via a proposed empirical metric, analysis, and discussion and, finally, design recommendations for an efficient system. No doubt, this study will benefit the developing field of smart homes, offices, and cities.