I've played a ton of different home games, all with different chip structures. I would start with fewer chips if possible and color up at second break to allow for max players and more space at the table. I prefer this style, but I know most home game players prefer to have more chips in front of them to play with.
I prefer set-up number 1, although most of the home games I play in start with half / quarter of that in chips and the blinds start significantly lower.
There are some details that would be nice as well, we need to know how often blinds increase and if an ante is ever involved.
My usual home game starting chip count and structure is as follows:
2500 -
3 x 500
8 x 100
8 x 25
25/50
50/100
100/200
250/500
500/1000
etc.
blinds move up every thirty minutes, no antes at any point.
We adopted this structure because we ended up getting nearly 30 people some weeks and didn't have a vast number of chips available and space was at a premium.
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