If you know deep in your heart that you want to be with this person, and that you would literally do anything including lay down your life, then I say go for it. My warning: don't be disappointed if he doesn't say it back! Also, if he offers you an insincere "I love you too", then you don't be disappointed. It too my boyfriend two months after I said it to realize that he feels the same way too. We've been together now for fifteen months.
