Most likely a 240 or three phase jointer will be as well or better made then a 120 volt one. And cheaper to buy used. Changing a motor is easy if it is belt drive.
If it is three phase they make vfd's that take 120 volts single phase and output three phase around 208-240 volts. I think they max out around one HP. But you can use it for now to run a 3hp motor but you will be limited to one hp output regardless of motor size. When you get 240 volts switch out the vfd to get the hp needed.
Bill D
PS: not much to fail on a jointer. Ball bearings are interchangeable. Knives are standard sizes. Not much to break or wear.