I was wondering if the Home folder can be made into a separate partition?
Yes... but do you have a real reason for doing so?
I would like the ability to upgrade or reinstall Mint in the future without affecting the Home Folder (partition).
That has never happened and never will happen. Anytime you upgrade, or even reinstall the same version, you will have to deal with config files in the /home folder, even if it is on another partition, if you don't format your /home folder/partition.
What you do gain is some isolation of your data from your install, if your data is in your /home folder. It is better to have your data in a separate /home partition than have it in your / partition in your /home folder.
If it is data isolation you are looking for you might consider making a separate data partition and not having it in your install at all.