This is similar to a resource that atlassian has put out on storing dotfiles [1]. It is also similar to what I use and I can vouch for this method as well.
Not sure if I got it from the atlassian post or the original hacker news post - I am aware of both. It don't see the need for anything more complex. My first config commit is in early 2017.
[1] https://www.atlassian.com/git/tutorials/dotfiles