Do you feel comfortable around him? Do you feel comfortable about having sex with him? If it's your first time, you may or may not be prone to surprise vulnerabilities. Your physical and mental safety come first. If you feel comfortable, go ahead. Personally, I don't like overanalyzing sex or assigning too much significance to it.

For me, sex is like any other activity. Sometimes fun, sometimes tender, sometimes utterly mundane. It can be more enjoyable when done with someone I love, but sometimes I'll do it with someone I don't love. I wasn't in love when I first had sex. No big deal. I express love in ways that are more significant to me than sex.

Try to know yourself as well as you can, and do what makes you comfy. Good luck.