"Contribution room" refers to the maximum amount of money one is allowed to contribute or add to a specific investment or financial account, such as a retirement savings account or a tax-free savings account. Full definition
I also wouldn't advocate moving to a larger, more expensive house so soon after retiring your household debt and when you still have a lot of RRSP contribution room available. (moneysense.ca)
You can not contribute more than your TFSA contribution room in a given year, even if you make withdrawals from the account during the year. (sparxtrading.com)
Few people would have anywhere near that kind of contribution room available. (canadiancapitalist.com)