Plan your takeoff, fly your plan. If a landing straight ahead is not going to be as good as turning away, plan your takeoff to enable a turn away as soon as pratical after takeoff. If it works perfectly (enough runway length) you will be either able to land back straight ahead and stop, or, by the time you're so high you cannot land ahead, safely turn back. There are many cases where this is not going to be possible though.
At my home runway, landing straight ahead after reaching 200 feet would put me in the least favourable landing area. My takeoffs are always planned with a turn toward the safer landing area once safely airborne. When my engine quit a 300 feet years ago I made it into the field off the end of my runway (a 270 degree turn) with no problem, and no damage. Lots of luck and some credit for a plan, which I quickly implemented.
That said, fly the way you are trained! There are lots of reports to confirm that turning back for a downwind landing is a poor idea. I am not an advocate of 180's when there is a suitable landing area in the straight ahead direction.
Pilot DAR