It is interesting to see the different views on this one. As there is no hard and fast rule when you have an engine failure, only that your main consideration is that you and your passengers walk away. A number of years ago I was doing a flight test with CASA for the Chief pilots job, during the test he gave me an engine failure, I went through the emergency procedures and briefed him that we were going to land on a strip of beach, he said "what about that paddock," I said "the beach gets graded twice a day and its my call", he couldn't argue with that. Every situation is going to be different and there will be some that will disagree with your choice, however thats the responsibility thats comes with being the pilot in command, you have to make the best choice as you see fit.
For the record, I would have taken the road as well.