VFD's are around the same price as that socket if you are concerned, and you would save two thirds of your budget if you went second hand three phase.
Just make sure you can see that it's got 240v on the motor nameplate
(denoting it is a dual voltage three phase motor.)
That way you wouldn't have to worry about a machine tripping the breaker on start up.
The split second surge from starting is what the issue is with single phase, not whilst running.
My 24" machine running on idle uses about the same juice as my old laptop, much less than a kettle for instance, and runs from a household plug.
I can adjust the soft start with the touch of a button to suit, say add another second to make things easier on the supply.
Not important now, but if I as in another workshop with better supply, then that might be of importance if wanting to start it whilst another machine is running.
Just make sure you can see 240v (triangle symbol) meaning "Delta" low voltage configuration,
as some motors are fixed in (Y symbol) "star" high voltage 380/400v and are not near as easy to run from a VFD/inverter.
Simple to hook up, making/adapting a metal box for it is about the most work involved,
after you've got a grasp on Myfordman's treatise on the subject.
Just don't youtube it and have at it, plenty of articles on the subject.
Just saying incase you have a very nice machine near you for much less money.
All the best
Tom