I'd almost always use RAID-1 or if I had > 4 disks, maybe RAID-6. RAID-5 seems very cost effective at first, but if you loose a drive the probability of losing another one in the restoring process is pretty high (I don't have the numbers, but I researched that years ago). The disk-replacement process produces very high load on the non defective disks and the more you have the riskier the process. Another aspect is that 5 drives draw way more power than 2 and you cannot (easily) upgrade the capacity, although ZFS offers a feature for RAID5-expansion.

Since RAID is not meant for backup, but for reliability, losing a drive while restoring will kill your storage pool and having to restore the whole data from a backup (e.g. from a cloud drive)is probably not what you want, since it takes time where the device is offline. If you rely on RAID5 without having a backup you're done.

So I have a RAID1, which is simple, reliable and easy to maintain. Replacing 2 drives with higher capacity ones and increasing the storage is easy.