The former Red Devils assistant manager left after Jose Mourinho took over at Old Trafford and is still searching for his first job as head coach.
While a move to Swansea failed to materialise, Giggs has explained how the perception that he will only consider a job in the Premier League is totally false.
“I think after speaking to owners or chief execs [sic], and they excite and motivate you, it doesn’t matter what level,” Giggs told Talk Sport.
“I think a lot of things have been said about me that I would only coach in the Premier League – that’s not the case.
“I would rather coach a League Two team in which philosophy and ambitions match mine rather than going in to the Premier League and firefighting and the owners don’t give you a chance.
“I’d much prefer that, especially it being my first job.”
Giggs has revealed he is very much rested up now and keen to get back into football, but only if the right job emerges.
“I think at the start I said I wanted to take a year out, but if there were offers I’d be stupid not to look at them and have a chat to various clubs.
“It only happened once, with Swansea.
“I’ve been linked with every other club in the country who has lost their manager, but Swansea was the only realistic one.
“That didn’t materialise, and I’m still in the same situation really – enjoying where I am in my life at the moment, but also if there is a club, willing to talk and share the same philosophy as me, then we will chat.”