Probably the first true science fiction novel ever written. H.G. Wells played a huge part in shaping how we look at sc-fi today. For that I salute him. Although I will say, if one were to be specific, Jules Verne is truly the grandfather of sci-fi. Nonetheless.
The Time Machine isn't bad book. To me though, it comes off more proto-science fiction than straight sci-fi. This makes sense since it's the first of its kind. It just plays out more like a fantasy adventure novel. There is some science in it though.