Ever hear of a cross control stall? It has brought a sad end to many light piston aircraft trying to salvage the overshoot. JamesNoBrakes makes a lot of good points. I'm not saying to never do it, a 180 turn to final is a precision maneuver. I teach my students to roll wings level on base, check trim, glide path,power and airspeed against the standard. It doesn't need to be much of a base but it gives chance to make adjustments.