This study explores the influence of precursor solution composition and solvent selection on the synthesis of vanadium oxide (VO2) thin films tailored for resistive memory applications. The vanadium pentoxide and oxalic acid molar ratio and the dispersing medium (ethanol, water, and their mixture) were varied. Water content significantly influenced the VO2 phase, morphology, and film thickness. Ethanol yielded mixed vanadium oxide phases VO2 − Tetragonal, V2O5 − Orthorhombic, and Monoclinic) and a film with minor imperfections. Conversely, the active layer prepared using an aqueous medium showed a predominant VO2 − Monoclinic phase, albeit with a non-uniform film. An ethanol–water mixture produced the most uniform morphology and a mixture of vanadium oxide phases (VO2 − Tetragonal, V2O5- Orthorhombic). All devices displayed resistive switching behavior. VO2-containing devices exhibited a more pronounced transition from an ohmic conduction state to a space-charge-limited conduction mechanism. ON-state currents remained consistent, while OFF-state currents varied notably.