Should I have sex with my boyfriend?

[LaLa]

Well, first off I'm 17 [turning 18 soon]. And I've been dating my best friend, he's 18 almost 19, for about 5 months or so [though we did have a 2 month prelude-counting that it's 7 months] and i want to have sex. In the society we live in I believe 17 is an alright age to start having sex. The thing is should I wait for him to tell me that he loves me until I do? He has told me he cares about me more than any of his past girlfriends [which is kind of huge cause he was like in love with a past girlfriend for about a year], and he shows me everyday that he does love me. He just hasn't said it yet, and I'm wondering if waiting to have sex until he tells me he loves me is a good idea? I'm not going to tell him that I won't have sex with him until he says he loves me, cause then he might just say it to have sex. But if I know him like I think I do, he wouldn't do that. And for him to say "I love you" means that he really does, just wondering if I should have sex during this relationship, and if that sounds like a good way to wait and then give?