Richards, who is currently on loan at Championship promotion hopefuls Crystal Palace, signed a new three-year deal at the Liberty Stadium earlier on Thursday with his previous contract due to expire in the summer.
The 21-year-old has impressed during his loan stint at Palace and his performances had attracted interest from a number of other clubs.
However, Richards insists he was happy to ignore overtures from other clubs and is determined to fight for a spot in Michael Laudrup's first-team plans next term.
"Obviously I am delighted about signing a new contract at Swansea," Richards told skysports.com.
"I was born in Swansea and watched Swansea and signed for them as a youngster so it would have been stupid to go anywhere else with the club doing ever so well.
"Signing a new deal gives me the opportunity to push on and try and establish myself in the first-team and like anyone I want to be playing.
"Angel [Rangel] is a quality player and it is difficult to get into the side and it is difficult for the manager to choose a team as there are so many good players at the club.
"I believe playing at Palace on a regular basis can only benefit me as well as Swansea in the long-term.
"Things are going well at Palace and I think I have done OK and it has been good for me to get some games and pick up some experience."
The full-back is thoroughly enjoying his stint at Selhurst Park and believes he has learned a lot working under Ian Holloway.
"He is a great manager and I have enjoyed playing under him," added Richards.
"He is a manager who wears his heart on his sleeve and it is always good to play for a manager like that.
"He knows what he is talking about and he showed that at Blackpool when he helped them win promotion to the Premier League and hopefully he can do that at Palace too."
Richards made his first competitive appearance for Wales in the midweek World Cup qualifying defeat to Croatia and he hopes to add to his caps for his country.
"It was great to get my first competitive cap for my country after making my debut in a friendly against Mexico last summer," continued Richards.
"There were a few players injured and suspended so I knew I had a chance of being involved and it was great to get on in such a big game.
"I was actually brought on to play left wing and I thought I did OK, but it was disappointing that we ended up losing the game.
"It was good to get another cap and represent my country and I am determined to win many more in the future."
Interview courtesy of New Era Global Sports