Will Nexus 5 be allowed to update to Android L? I'm planning to buy a Nexus 5 next month, but before that I'd like to know if I will be allowed to update it to the next Android version, when it get released, that for now is being called Android L.
The latest version for nexus 5 is 4.4.4. Once L is ready to be released to users, you will be allowed to update.

Currently L developer preview is available.