Don't mean to turn this into an advice thread of a different sort, but are you certain that your new wife (congratulations, by the way) will be opposed to an apartment on a temporary basis? Go up to Edmonton and you will see why so many (including myself) are pushing living near the University. It is a very nice part of the city, with all of the amenities you could ask for within walking distance or at worst a short drive.
Maybe talk to her and explain that your budget, as it currently sits, isn't enough to get her everything she is looking for. As for buying a house, though I am no expert, a lot of materials I have read say that buying a house only makes sense financially if you are planning on staying somewhere 5-10 years. Owning a home will severely limit your options when it comes to finding a job in other places - so the best route may be to speak with your wife, or increase your budget if there is no flexibility there.
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