The German playmaker says he wants to keep his options open for the future amid reports that the Spanish giants want to tie him down for six more years
The Germany international first moved to the Bernabeu off the back of some stellar performances in the 2010 World Cup and has since become a key player for the Spanish giants.
And while he insists that he is very happy with life at the Santiago Bernabeu, he has no intention of renewing his contract just yet.
"It's nice that Madrid want to renew," he told Sport Bild. "It makes me happy because it is a sign of trust in my performances.
"But, at the moment, there is nothing decided and there is no pressure. Of course I can imagine finishing my career at Madrid. But I can also imagine doing something completely different at some point."
However, when asked whether his reticence to sign a new deal was motivated by Jose Mourinho's departure, he replied: "In football, everything can happen so fast. Every step has to be thought out carefully."
The 24-year-old went on to say that Carlo Ancelotti's side is aiming for a clean sweep of trophies in the coming campaign.
"We have big goals at Real Madrid. And we can only achieve that with great players. We're aiming for first place in all three competitions. This is not about arrogance.
"I look forward to the new season. At Real Madrid you cannot compete for a whole season with just 11 players. We need the best quality."