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More to this, If you want to fall back to original home ;)
After Out-of-place upgrade, how to move the new ORACLE_HOME back to old ORACLE_HOME? [ID 1265650.1]
and hoping you never wanted to do this, but just for your reference ->In-Place Upgrade on UNIX For Single Instance 11gR2 Database [ID 1377613.1]
Srini Chavali wrote:Exactly what I was looking for. I wonder why they made it a MetaLink (oops, MOS) note instead of just including it in the distribution media?
Ed - pl see this MOS Doc
Complete checklist for out-of-place manual upgrade from previous 11.2.0.N version to the latest 11.2.0.N patchset. [ID 1276368.1]
You could also use DBUA to perform the upgrade from the new ORACLE_HOME