If you have a lot of blog posts in your blog already and do not want to delete it, try this:
- Rename the home page to Blog
- Go to Administration > Advanced Tools > URL Redirect Manager
- Find the entry redirecting /home to /blog and delete it.
- Go to Administration > Add/Edit Pages
- Create a new page named Home and move it to the top the list.
- Move the Blog page to the desired location in your menu structure
- Go to the Blog page and click "Edit this Page"
- Remove the content features you don't want on the blog page by selecting the feature and clicking the trash icon next to the list containing the selected feature. This will not delete the content, it'll only remove it from the page.
- Go to Administration > Content Manager
- Find the content which used to be on the blog page and publish it to the new home page.
- Got to the Home page and click "Edit this Page"
- Add the Feed Manager feature to the page in the desired panel
- Configure the Feed Manager to consume the feed exposed by the Blog
It's a bit of a process but it works and saves you from needing to recreate a lot of blog posts.