The 25-year-old has been with the Citizens his entire career but has only made two Premier League starts this season, with Manuel Pellegrini preferring to employ Pablo Zabaleta at right-back.
He said in the Sunday Mirror: "My contract is up at the end of next season and, although I've already spoken to City and know that they are happy to extend my deal, I've told them I want to see how many games I play this season.
"I don't ever want to leave Manchester City, with the way it's going. But it's one of those where I will have to look at my career and say, 'Are you playing enough?'
"Come the end of the season, I'll do that and, hopefully, I'll have played enough. But it's a decision I'll make from January through to the summer when I see where I'm at. I've been at City for 11 years, and I don't see myself anywhere else. But you always have in your mind that playing comes first and that's what I'll look at."
Richards, capped 13 times by England, has been linked with Arsenal in recent times.