As we can see by reading the advantages and disadvantages of these three options, there is no such thing as an overall better or best approach; conversely, we can say that each project scenario will likely have a best suited approach.
Regarding our project, considering the fact that we don’t have a Database yet and we’re aiming for a flexible, mutable small-scale data structure, adopting the Code-First approach will probably be a good choice. That’s what we will do, starting from the following paragraph.