The defender had been linked with a move away from Bloomfield Road this summer but put an end to the speculation over the weekend by signing a new one-year contract, with the option for a further 12 months.
He concedes that he had a lot of thinking to do after attracting so much attention, reportedly from the likes of Barnsley, Ipswich and Blackburn, but has no regrets about staying with the Seasiders.
"I had a few options to be fair," said the 28-year-old in the Blackpool Gazette.
"The amount of clubs interested was the main reason for me taking my time to make a decision.
"I could have signed for a different team on a longer contract, but the fact that I know what I'm getting made my decision.
"I took my time over the summer to decide what to do.
"I spent the summer speaking to people, and am really happy to be back at Blackpool."
Broadfoot became an increasingly important player for Blackpool last season after being switched from right-back to centre-half, where he performed well alongside on-loan Gary MacKenzie, who has this summer made his move from Milton Keynes Dons permanent.
"I played centre half last season, that helped a lot and I enjoyed myself here," said Broadfoot.
"Near the end of the season myself and Gary picked up quite a good partnership.
"Obviously Cathers (Craig Cathcart) is a top player and will also be pushing for a starting place.
"But the fact I can slip straight back in really helps."