Uncertain about his future in Victoria, the West Australian wanted to keep his contract negotiations "in the background" until the end of the season.
He confirmed that West Coast and new franchise Gold Coast had approached his manager Liam Pickering, although formal offers were only made by the Roos.
"I just wanted to make sure that this was where I wanted to be, being a pretty big decision with where my career's at and where my life's at, and it makes sense," Wells told afl.com.au.
"I didn't want to expect to go or anything. I just wanted to concentrate on my footy as much as I could and let the decision come later on in the year. The club said, 'No worries, that's fine'.
"When I decided that I wanted to stay, I was that excited that I rang my manager up. I was sure in myself where I wanted to be - same as my wife and my daughter, who are both Victorian.
"Guys speak about being life members [of their clubs] and in a couple of years' time it's going to be me, if all goes well. I'm really looking forward to that."
Wells, whose last contract was for two years, said he emotionally committed to North ahead of captain Brent Harvey's 300th game, against the Eagles in round 21.
The 25-year-old also said he had discussed his future with Harvey and coach Brad Scott, but the pair had not pushed him towards a decision.
"I had a couple of chats to Boomer (Harvey) and Brad. The one thing about them, they never tried to persuade me to stay. They were very classy the way they went about it," he said.
"To be involved with people like that, you're not going to get those people too often. Without them probably knowing it, they probably helped me make my decision a little bit easier.
"They put themselves in my shoes and they could see where I was coming from. They just said, 'Take your time, whatever you do you do and we'll leave it at that'."
Wells, North's first-round selection (No.2 overall) in the 2002 national draft, took his career tally to 149 with 19 games this season.
After his 2009 campaign was ruined by osteitis pubis, Wells didn't expect a return from injury that could produce fifth place in this year's Syd Barker Medal count.
He said he would strive for elite fitness and greater improvement under Scott, who has spoken on numerous occasions of his desire to bring the best out of his midfielder.
"Having that taken away from me last year and getting the opportunity to play again without the groin injuries and without the pain, it makes you a little bit more determined and just realise that there's not much longer to go really in your career," Wells said.
"The groin is as good as it's ever been. That's not an issue anymore.
"I'm trying a couple of new things, really sort of stepping it up in a lot of the areas and having that belief in myself that I can be the player that I want to be.
"If I get to anywhere near that stage, the supporters and the club are going to be happy with it."
