I would port the home phone number over to one of the free or very low cost VoIP services. Some of them charge a fee up front for the equipment and provide free phone calls. Others let you use your own equipment and charge as little as $1/mo for basic service. That way, you still have most of the benefits of a land line at a fraction of the cost.
That was my original plan to port the home phone number to a VoIP provider, but then I looked at the bigger picture, and was wondering, do I really need a 905 number for my home phone when a lot of my family lives in Toronto or the other side of Toronto where long distance charges apply every time they call me or I call them? NO. So I said to heck with it, I'm cancelling this number, and I will test out the waters first without a home phone and maybe down the road when I have more free time I will sign up for a VoIP provider and get a NEW 416 number which would benefit me better because now most of my family can call me without incurring any long distance charges.
So right now, I have been able to get by without the landline, and yes the landline was part of my bundle too, but so was TV, and I cancelled BOTH, because I simply can not afford both, TV and Landline are sort of a "nice to have" right now, and NOT a "must have" so when I get more disposable income, that may change.
As for the replacement, I have informed most of the companies I do business with that my previous phone number is disconnected, and most of them do a good job at confirming with me every time I make some kind of appointment or so anyways. So far so good. The only caveat is now is that some companies prefer to solicit me via text message now that I have provided them a "cellular" number, such as dentists to confirm appointments, bills due, etc. I guess it saves them money instead of having to get their receptionists to call people manually. oh well, that is part of the whole automation topic.