A new year is on the horizon, so what better time to look at making some changes to your investment portfolio.

But which ASX shares could be good options in 2025? Let's take a look at a couple that Bell Potter has named as best buys for the year ahead. They are as follows:

Life360 Inc (ASX: 360)

Bell Potter thinks that a recent pullback in Life360's shares has created a buying opportunity in 2025.

Life360 develops and operates a mobile app for families that provides a range of safety features. This includes communications, driving safety and location sharing.

The broker highlights that the company has a significant opportunity to monetise its huge (and growing) subscriber base. It said:

The app is used globally by over 75 million people and, of these, there are around 7 million paying subscribers. The penetration rate, therefore, is around 10% and the company has a stated long term target of 30% so there is the potential for the paying subscriber base to triple from here. Life360 is also adding new verticals – like advertising, pet and elderly tracking – which provide additional areas of growth.

The next potential catalysts are when Life360 releases its Q4/2024 result in February – we expect a strong result towards the upper end of the guidance ranges – and the S&P/ASX index rebalance in March where we see a good chance Life360 will be added to the Top 100.

Bell Potter has a buy rating and $26.75 price target on its shares.

Cedar Woods Properties Ltd (ASX: CWP)

Another ASX share that could be a buy according to Bell Potter is Cedar Woods Properties.

It sees huge upside in the Perth-based property developer's shares at current levels. Particularly given its positive outlook in FY 2025. It said:

CWP's pipeline is diversified by product type, price point and geography, enabling them to maintain smooth earnings throughout the cycle to ride the tailwind that is Australia's undersupply of housing. We believe CWP is being held down (trading in-line with NTA vs long-term 30% premium) by noise from larger residential peers, and not being appropriately rated by the market for its exposure (soon to be earnings) to stronger markets such as WA, SA and SEQ.

The longstanding management have a track record of being conservative (and beating) guidance, so the 10% NPAT growth target set in August demonstrates the strong level of confidence in how things are going.

The broker has a buy rating and $7.20 price target on its shares.